2019 Gp L.L.C. Gv Sells 157,952 Shares of Prime Medicine, Inc. (NYSEARCA:PRME) Stock

Prime Medicine, Inc. (NYSEARCA:PRME – Get Rating) major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $12.74, for a total value of $2,012,308.48. Following the sale, the insider now directly owns 10,800,973 shares in the company, valued at approximately $137,604,396.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

2019 Gp L.L.C. Gv also recently made the following trade(s):

• On Friday, May 12th, 2019 Gp L.L.C. Gv sold 27,290 shares of Prime Medicine stock. The stock was sold at an average price of $12.72, for a total value of $347,128.80.
• On Wednesday, May 10th, 2019 Gp L.L.C. Gv sold 87,397 shares of Prime Medicine stock. The stock was sold at an average price of $14.03, for a total value of $1,226,179.91.
• On Monday, May 8th, 2019 Gp L.L.C. Gv sold 100,772 shares of Prime Medicine stock. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36.

Prime Medicine Trading Up 3.7 %

Shares of PRME opened at $13.02 on Thursday. The stock has a fifty day moving average of $13.04 and a two-hundred day moving average of $16.25. Prime Medicine, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $21.73.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRME shares. Morgan Stanley cut their price objective on Prime Medicine from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 24th. Stifel Nicolaus initiated coverage on Prime Medicine in a report on Monday, April 17th. They issued a “buy” rating and a $18.00 price target for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Institutional Trading of Prime Medicine

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in Prime Medicine during the 4th quarter worth $29,000. First Horizon Advisors Inc. purchased a new stake in Prime Medicine during the 4th quarter worth $34,000. Strs Ohio purchased a new position in Prime Medicine in the 4th quarter valued at about $44,000. Barclays PLC purchased a new position in Prime Medicine in the 4th quarter valued at about $52,000. Finally, Tower Research Capital LLC TRC boosted its position in Prime Medicine by 764.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the company’s stock valued at $40,000 after buying an additional 2,852 shares during the last quarter.

Prime Medicine Company Profile

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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.