Green Alpha Advisors LLC Buys Shares of 185,023 Prime Medicine, Inc. $PRME

Green Alpha Advisors LLC purchased a new stake in Prime Medicine, Inc. (NASDAQ:PRME) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 185,023 shares of the company’s stock, valued at approximately $683,000. Green Alpha Advisors LLC owned 0.10% of Prime Medicine at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRME. Creative Planning acquired a new position in Prime Medicine in the second quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Prime Medicine in the fourth quarter worth approximately $31,000. Royal Bank of Canada increased its stake in Prime Medicine by 89.3% during the first quarter. Royal Bank of Canada now owns 9,254 shares of the company’s stock worth $32,000 after acquiring an additional 4,365 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Prime Medicine during the fourth quarter worth $33,000. Finally, Glen Eagle Advisors LLC purchased a new stake in Prime Medicine in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRME shares. Wall Street Zen raised Prime Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Citigroup reissued a “market outperform” rating on shares of Prime Medicine in a research report on Monday, June 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Prime Medicine in a report on Wednesday, June 3rd. BMO Capital Markets assumed coverage on shares of Prime Medicine in a research report on Tuesday. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, TD Cowen reaffirmed a “buy” rating on shares of Prime Medicine in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.69.

Prime Medicine Stock Up 4.6%

NASDAQ:PRME opened at $3.39 on Friday. Prime Medicine, Inc. has a 52 week low of $2.67 and a 52 week high of $6.94. The stock’s fifty day moving average is $3.31 and its two-hundred day moving average is $3.42. The stock has a market capitalization of $614.87 million, a price-to-earnings ratio of -3.20 and a beta of 2.31.

Prime Medicine (NASDAQ:PRME) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.24) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.24). The business had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $4.40 million. Prime Medicine had a negative return on equity of 188.27% and a negative net margin of 4,613.11%. On average, sell-side analysts expect that Prime Medicine, Inc. will post -0.95 EPS for the current fiscal 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.