<div id="readability-page-1"><p>Prime Medicine, Inc. (NYSE:PRME - Get Free Report) traded down 6.7% during mid-day trading on Tuesday . The stock traded as low as $4.16 and last traded at $4.20. 1,029,369 shares were traded  during trading, a decline of 57% from the average session volume of 2,403,093 shares. The stock had previously closed at $4.50.</p><div><p><span></span><span>Get <strong>Prime Medicine</strong> alerts:</span></p></div><h2>Analyst Ratings Changes</h2><ul><li>2 gene editing stocks to keep on your 2024 watchlist</li></ul><p>Several research firms recently weighed in on PRME. Chardan Capital reduced their target price on shares of Prime Medicine from $16.00 to $12.00 and set a &#34;buy&#34; rating on the stock in a report on Monday, May 19th. JMP Securities reduced their target price on shares of Prime Medicine from $10.00 to $6.00 and set a &#34;market outperform&#34; rating on the stock in a report on Tuesday, May 20th. Citigroup  restated a &#34;neutral&#34; rating and set a $1.50 target price (down previously from $10.00) on shares of Prime Medicine in a report on Tuesday, May 27th. HC Wainwright lowered shares of Prime Medicine from a &#34;buy&#34; rating to a &#34;neutral&#34; rating in a report on Tuesday, May 20th. Finally, Wedbush  reiterated an &#34;outperform&#34; rating and issued a $8.00 price objective on shares of Prime Medicine in a report on Wednesday, July 16th. One research analyst  has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one  has given a strong buy rating to the company's stock. According to MarketBeat.com, Prime Medicine presently has an average rating of &#34;Moderate Buy&#34; and a consensus target price of $9.25.</p><p><b>Get Our Latest Report on Prime Medicine</b></p><h2>Prime Medicine Trading Down 3.0%</h2><p>The stock has a market cap of $587.08 million, a P/E ratio of -2.14 and a beta of 2.38. The firm's 50-day simple moving average is $2.88 and its 200 day simple moving average is $2.31. </p><h2>Insider Activity at Prime Medicine</h2><p>In other Prime Medicine news, major shareholder David R. Liu bought 21,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was acquired at an average cost of $2.16 per share, with a total value of $45,360.00. Following the completion of the purchase, the insider directly owned 20,219,945 shares in the company, valued at approximately $43,675,081.20. This trade represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Arch Venture Partners Xii, Llc purchased 3,030,300 shares of Prime Medicine stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $3.30 per share, with a total value of $9,999,990.00. Following the transaction, the insider owned 6,230,300 shares in the company, valued at $20,559,990. This represents a 94.70% increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,093,300 shares of company stock valued at $10,110,240 over the last quarter. Insiders own  22.93% of the company's stock. </p><h2>Institutional Trading of Prime Medicine</h2><p>Several hedge funds and other institutional investors have recently bought and sold shares of PRME. Westwood Holdings Group Inc. grew its position in shares of  Prime Medicine by 96.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company's stock worth $2,579,000 after buying an additional 433,653 shares during the period.  Walleye Capital LLC lifted its stake in  Prime Medicine by 272.5% in the fourth quarter. Walleye Capital LLC now owns 403,739 shares of the company's stock valued at $1,179,000 after buying an additional 295,365 shares in the last quarter.  AQR Capital Management LLC lifted its stake in  Prime Medicine by 1,419.4% in the first quarter. AQR Capital Management LLC now owns 243,795 shares of the company's stock valued at $485,000 after buying an additional 227,749 shares in the last quarter.  T. Rowe Price Investment Management Inc. lifted its stake in  Prime Medicine by 4.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,977,828 shares of the company's stock valued at $11,616,000 after buying an additional 170,541 shares in the last quarter.  Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of  Prime Medicine in the fourth quarter worth $423,000. 70.37% of the stock is currently owned by institutional investors and hedge funds. </p><h2>Prime Medicine Company Profile</h2> (Get Free Report)<p>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.</p><h2>See Also</h2><ul><li>Five stocks we like better than Prime Medicine</li><li>What Do S&amp;P 500 Stocks Tell Investors About the Market? </li><li>Applied Digital: Why a Surge in Bullish Bets Signals a New Era </li><li>Trading Stocks: RSI and Why it's Useful</li><li>Palantir Stock Soars After Blowout Earnings Report</li><li>How to Invest in the FAANG Stocks</li><li>Amazon Enters Correction Zone: Time to Panic or Be Brave?</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Prime Medicine Right Now?</h2><p>Before you consider Prime Medicine, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prime Medicine wasn't on the list.</p><p>While Prime Medicine currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

PRME

<p>Prime Medicine (NYSE:PRME) shares fell 6.7% to $4.20, with trading volume down 57% from average levels. Analysts have adjusted target prices, with Chardan Capital lowering theirs from $16 to $12, while Citigroup set a new target of $1.50. Insider trading saw significant purchases, increasing ownership stakes. Institutional investors hold 70.37% of shares. The company focuses on genetic therapies using gene editing technology, with a market cap of $587.08 million and a P/E ratio of -2.14.</p>

Prime Medicine (NYSE:PRME) Trading Down 6.7% - Here's What Happened