208,057 Shares in Prime Medicine, Inc. $PRME Purchased by PEAK6 LLC

PEAK6 LLC purchased a new position in shares of Prime Medicine, Inc. (NASDAQ:PRME) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 208,057 shares of the company’s stock, valued at approximately $768,000. PEAK6 LLC owned 0.11% of Prime Medicine as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PRME. Russell Investments Group Ltd. lifted its position in shares of Prime Medicine by 1,316.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,827 shares of the company’s stock worth $38,000 after buying an additional 6,345 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Prime Medicine in the fourth quarter valued at $31,000. Royal Bank of Canada grew its position in Prime Medicine by 89.3% in the first quarter. Royal Bank of Canada now owns 9,254 shares of the company’s stock valued at $32,000 after acquiring an additional 4,365 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Prime Medicine during the fourth quarter worth $33,000. Finally, Glen Eagle Advisors LLC acquired a new position in Prime Medicine during the fourth quarter worth $35,000. 70.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Prime Medicine in a report on Monday, August 10th. BMO Capital Markets began coverage on Prime Medicine in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $9.00 target price for the company. TD Cowen reissued a “buy” rating on shares of Prime Medicine in a research note on Wednesday, July 8th. New Street Research set a $8.00 target price on Prime Medicine in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded shares of Prime Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.69.

Prime Medicine Stock Performance

Shares of NASDAQ PRME opened at $3.39 on Monday. The company has a fifty day moving average price of $3.31 and a 200 day moving average price of $3.42. The firm has a market cap of $614.88 million, a PE ratio of -3.20 and a beta of 2.31. Prime Medicine, Inc. has a 1-year low of $2.67 and a 1-year high of $6.94.

Prime Medicine (NASDAQ:PRME) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.24). The firm had revenue of $1.15 million for the quarter, compared to the consensus estimate of $4.40 million. Prime Medicine had a negative return on equity of 188.27% and a negative net margin of 4,613.11%. Equities research analysts forecast that Prime Medicine, Inc. will post -0.95 EPS for the current year.

Prime Medicine Company Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.