Fintel reports that on December 10, 2024, JMP Securities initiated coverage of Prime Medicine (NasdaqGM:PRME) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 295.96% Upside
As of December 3, 2024, the average one-year price target for Prime Medicine is $12.75/share. The forecasts range from a low of $5.05 to a high of $19.95. The average price target represents an increase of 295.96% from its latest reported closing price of $3.22 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Prime Medicine is 2MM, an increase of 143.88%. The projected annual non-GAAP EPS is -2.34.
What is the Fund Sentiment?
There are 248 funds or institutions reporting positions in Prime Medicine. This is an decrease of 10 owner(s) or 3.88% in the last quarter. Average portfolio weight of all funds dedicated to PRME is 0.07%, an increase of 23.04%. Total shares owned by institutions increased in the last three months by 3.74% to 78,177K shares. 
The put/call ratio of PRME is 0.23, indicating a bullish outlook.
What are Other Shareholders Doing?
Alphabet holds 15,062K shares representing 11.80% ownership of the company. No change in the last quarter.
ARK Investment Management holds 5,661K shares representing 4.44% ownership of the company. In its prior filing, the firm reported owning 6,127K shares , representing a decrease of 8.23%. The firm decreased its portfolio allocation in PRME by 28.30% over the last quarter.
T. Rowe Price Investment Management holds 3,807K shares representing 2.98% ownership of the company. In its prior filing, the firm reported owning 3,726K shares , representing an increase of 2.14%. The firm decreased its portfolio allocation in PRME by 26.49% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 3,190K shares representing 2.50% ownership of the company. In its prior filing, the firm reported owning 3,238K shares , representing a decrease of 1.50%. The firm decreased its portfolio allocation in PRME by 30.35% over the last quarter.
Nikko Asset Management Americas holds 3,182K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 3,238K shares , representing a decrease of 1.76%. The firm decreased its portfolio allocation in PRME by 27.15% over the last quarter.
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This story originally appeared on Fintel.
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