Prime Medicine, Inc. (NYSE:PRME) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 67.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,138 shares of the company’s stock after selling 50,790 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Prime Medicine were worth $124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of Prime Medicine in the 2nd quarter worth $29,000. National Bank of Canada FI acquired a new position in shares of Prime Medicine in the 2nd quarter valued at about $34,000. Nisa Investment Advisors LLC lifted its stake in shares of Prime Medicine by 22,652.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock valued at $40,000 after purchasing an additional 7,702 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Prime Medicine during the 2nd quarter worth about $97,000. Finally, ProShare Advisors LLC increased its position in Prime Medicine by 19.8% during the 1st quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock worth $107,000 after purchasing an additional 2,520 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

PRME has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Prime Medicine in a research report on Wednesday, October 2nd. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research note on Wednesday, August 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $12.00 price target on shares of Prime Medicine in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Prime Medicine Stock Up 15.3 %

PRME opened at $4.38 on Monday. The firm’s 50 day moving average is $3.93 and its 200-day moving average is $5.17. The firm has a market capitalization of $525.74 million, a P/E ratio of -2.02 and a beta of 2.18. Prime Medicine, Inc. has a 52-week low of $3.28 and a 52-week high of $9.86.

Prime Medicine (NYSE:PRME) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.06). Equities analysts expect that Prime Medicine, Inc. will post -1.75 earnings per share for the current fiscal year.

About Prime Medicine

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.