Prime Medicine, Inc. (NYSEARCA:PRME – Get Rating)'s stock price shot up 7.4% during trading on Tuesday . The stock traded as high as $18.79 and last traded at $18.73. 7,198 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 235,939 shares. The stock had previously closed at $17.44.
Analyst Ratings Changes
Several research firms have commented on PRME. The Goldman Sachs Group began coverage on shares of Prime Medicine in a research note on Monday, November 14th. They issued a "neutral" rating and a $22.00 price target for the company. Jefferies Financial Group began coverage on shares of Prime Medicine in a research report on Monday, November 14th. They set a "buy" rating and a $25.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Prime Medicine in a research report on Monday, November 14th. They set an "overweight" rating and a $27.00 price objective for the company. Finally, Morgan Stanley began coverage on shares of Prime Medicine in a research report on Monday, November 14th. They set an "equal weight" rating and a $23.00 price objective for the company.
Get Prime Medicine alerts:Prime Medicine Stock Down 0.8 %
The business's fifty day moving average price is $19.27 and its 200 day moving average price is $19.89.
Insider Transactions at Prime Medicine
In related news, Director Thomas Cahill bought 400,000 shares of the stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $6,800,000.00. Following the completion of the transaction, the director now owns 5,305,679 shares of the company's stock, valued at approximately $90,196,543. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Thomas Cahill bought 400,000 shares of the stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $6,800,000.00. Following the completion of the transaction, the director now owns 5,305,679 shares of the company's stock, valued at approximately $90,196,543. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the stock in a transaction on Monday, October 24th. The shares were bought at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company's stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here.Prime Medicine Company Profile
(Get Rating)
Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address diseases by deploying gene editing technology. It 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.
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