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

Crestwood Advisors Group LLC purchased a new position in shares of Prime Medicine, Inc. (NYSE:PRME) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 31,687 shares of the company’s stock, valued at approximately $93,000.

Several other hedge funds also recently modified their holdings of PRME. Vestal Point Capital LP grew its stake in Prime Medicine by 137.8% in the 3rd quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock valued at $4,141,000 after buying an additional 620,000 shares during the last quarter. Barclays PLC grew its stake in Prime Medicine by 343.3% in the 3rd quarter. Barclays PLC now owns 84,697 shares of the company’s stock valued at $328,000 after buying an additional 65,593 shares during the last quarter. Geode Capital Management LLC grew its stake in Prime Medicine by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,359,979 shares of the company’s stock valued at $5,264,000 after buying an additional 63,456 shares during the last quarter. State Street Corp grew its stake in Prime Medicine by 3.9% in the 3rd quarter. State Street Corp now owns 1,146,949 shares of the company’s stock valued at $4,439,000 after buying an additional 43,086 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Prime Medicine in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Prime Medicine Trading Down 4.2 %

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

Analyst Upgrades and Downgrades

PRME has been the topic of a number of research analyst reports. Chardan Capital lowered their target price on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Guggenheim restated a “buy” rating and set a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. JMP Securities initiated coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 target price for the company. StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. Finally, Citizens Jmp raised Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.13.

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.