Corsair Capital Management L.P. Invests $77,000 in Prime Medicine, Inc. (NYSE:PRME)

Corsair Capital Management L.P. acquired a new stake in Prime Medicine, Inc. (NYSE:PRME) during the 3rd quarter, Holdings Channel reports. The fund acquired 20,000 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in shares of Prime Medicine during the second quarter valued at about $29,000. National Bank of Canada FI acquired a new stake in Prime Medicine in the second quarter valued at $34,000. Nisa Investment Advisors LLC lifted its holdings in Prime Medicine by 22,652.9% during 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. Intech Investment Management LLC acquired a new stake in shares of Prime Medicine in the third quarter valued at about $55,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Prime Medicine by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 23,086 shares of the company’s stock worth $89,000 after acquiring an additional 8,985 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

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

Prime Medicine Stock Performance

Shares of PRME opened at $3.35 on Wednesday. Prime Medicine, Inc. has a one year low of $2.85 and a one year high of $9.86. The stock has a 50-day moving average of $3.77 and a 200-day moving average of $4.89.

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

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.