GSA Capital Partners LLP Invests $383,000 in Prime Medicine, Inc. (NYSE:PRME)

GSA Capital Partners LLP bought a new stake in shares of Prime Medicine, Inc. (NYSE:PRME) in the 3rd quarter, HoldingsChannel reports. The fund bought 99,060 shares of the company’s stock, valued at approximately $383,000.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in Prime Medicine in the 2nd quarter valued at approximately $29,000. National Bank of Canada FI bought a new position in shares of Prime Medicine in the 2nd quarter valued at approximately $34,000. Nisa Investment Advisors LLC increased its position in Prime Medicine by 22,652.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock worth $40,000 after buying an additional 7,702 shares during the period. ProShare Advisors LLC increased its position in shares of Prime Medicine by 19.8% during the first quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock valued at $107,000 after purchasing an additional 2,520 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Prime Medicine during the 2nd quarter worth approximately $97,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Price Performance

PRME opened at $2.99 on Friday. Prime Medicine, Inc. has a 52 week low of $2.85 and a 52 week high of $9.86. The business has a 50 day moving average of $3.83 and a 200-day moving average of $4.96. The stock has a market cap of $392.17 million, a PE ratio of -1.47 and a beta of 2.09.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The firm had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $55.00 million. Equities analysts anticipate that Prime Medicine, Inc. will post -1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PRME. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Prime Medicine in a research note on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a report on Thursday, August 8th. StockNews.com raised Prime Medicine to a “sell” rating in a research note on Thursday, November 14th. Finally, Chardan Capital reduced their price target on Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.25.

Prime Medicine Company 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.