Prime Medicine, Inc. (NYSEARCA:PRME) Major Shareholder Sells $191,550.00 in Stock

Prime Medicine, Inc. (NYSEARCA:PRME – Get Rating) major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of Prime Medicine stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $12.77, for a total transaction of $191,550.00. Following the completion of the transaction, the insider now owns 10,735,324 shares in the company, valued at $137,090,087.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Monday, May 15th, 2019 Gp L.L.C. Gv sold 157,952 shares of Prime Medicine stock. The shares were sold at an average price of $12.74, for a total transaction of $2,012,308.48.
• On Friday, May 12th, 2019 Gp L.L.C. Gv sold 27,290 shares of Prime Medicine stock. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80.
• On Wednesday, May 10th, 2019 Gp L.L.C. Gv sold 87,397 shares of Prime Medicine stock. The shares were sold at an average price of $14.03, for a total transaction of $1,226,179.91.
• On Monday, May 8th, 2019 Gp L.L.C. Gv sold 100,772 shares of Prime Medicine stock. The shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36.

Prime Medicine Stock Up 6.4 %

Shares of NYSEARCA:PRME opened at $13.89 on Friday. Prime Medicine, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $21.73. The firm’s 50-day simple moving average is $13.00 and its 200-day simple moving average is $16.19.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Prime Medicine

Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new stake in Prime Medicine during the fourth quarter worth about $29,000. First Horizon Advisors Inc. acquired a new position in Prime Medicine during the fourth quarter worth about $34,000. Strs Ohio acquired a new position in Prime Medicine during the fourth quarter worth about $44,000. Barclays PLC acquired a new position in Prime Medicine during the fourth quarter worth about $52,000. Finally, Tower Research Capital LLC TRC raised its position in Prime Medicine by 764.6% during the first quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the company’s stock worth $40,000 after acquiring an additional 2,852 shares during the last quarter.

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.