Crestwood Advisors Group LLC Takes $93,000 Position in Prime Medicine, Inc. (NYSE:PRME)

Crestwood Advisors Group LLC bought a new stake in Prime Medicine, Inc. (NYSE:PRME) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 31,687 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors have also modified their holdings of the company. Vestal Point Capital LP raised its stake in Prime Medicine by 137.8% during the third quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock worth $4,141,000 after acquiring an additional 620,000 shares during the period. Walleye Capital LLC bought a new position in Prime Medicine in the 3rd quarter worth about $419,000. GSA Capital Partners LLP bought a new position in Prime Medicine in the 3rd quarter worth about $383,000. Greenwich Wealth Management LLC grew its position in Prime Medicine by 12.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 733,001 shares of the company’s stock worth $2,837,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Barclays PLC grew its position in Prime Medicine by 343.3% in the 3rd quarter. Barclays PLC now owns 84,697 shares of the company’s stock worth $328,000 after purchasing an additional 65,593 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PRME shares. Guggenheim restated a “buy” rating and issued a $18.00 target price on shares of Prime Medicine in a research report on Tuesday, December 3rd. Chardan Capital decreased their target price on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. JMP Securities started coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 target price for the company. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine Stock Down 4.2 %

PRME stock opened at $2.54 on Thursday. Prime Medicine, Inc. has a 12-month low of $2.25 and a 12-month high of $9.77. The company has a market cap of $333.15 million, a price-to-earnings ratio of -1.24 and a beta of 1.86. The company has a 50 day moving average of $2.86 and a two-hundred day moving average of $3.45.

Prime Medicine Profile

Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address the spectrum of diseases by deploying gene editing technology. The company offers Prime Editors with a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme; and a pegRNA, which targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence.