Fintel reports that on May 16, 2024, Citigroup upgraded their outlook for Prime Medicine (NasdaqGM:PRME) from Neutral to Buy.
Analyst Price Forecast Suggests 114.11% Upside
As of May 8, 2024, the average one-year price target for Prime Medicine is 15.07. The forecasts range from a low of 9.09 to a high of $21.00. The average price target represents an increase of 114.11% from its latest reported closing price of 7.04.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Prime Medicine is 2MM, an increase of 230.12%. The projected annual non-GAAP EPS is -2.34.
What is the Fund Sentiment?
There are 228 funds or institutions reporting positions in Prime Medicine. This is an increase of 124 owner(s) or 119.23% in the last quarter. Average portfolio weight of all funds dedicated to PRME is 0.13%, an increase of 1.05%. Total shares owned by institutions increased in the last three months by 441.22% to 70,064K shares. 
The put/call ratio of PRME is 0.12, indicating a bullish outlook.
What are Other Shareholders Doing?
Alphabet holds 15,062K shares representing 13.03% ownership of the company. In its prior filing, the firm reported owning 11,862K shares , representing an increase of 21.24%. The firm decreased its portfolio allocation in PRME by 15.22% over the last quarter.
ARK Investment Management holds 5,993K shares representing 5.18% ownership of the company. In its prior filing, the firm reported owning 3,138K shares , representing an increase of 47.64%. The firm increased its portfolio allocation in PRME by 76.46% over the last quarter.
Nikko Asset Management Americas holds 3,365K shares representing 2.91% ownership of the company. In its prior filing, the firm reported owning 3,519K shares , representing a decrease of 4.59%. The firm decreased its portfolio allocation in PRME by 22.08% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 3,365K shares representing 2.91% ownership of the company. In its prior filing, the firm reported owning 3,519K shares , representing a decrease of 4.59%. The firm decreased its portfolio allocation in PRME by 30.48% over the last quarter.
T. Rowe Price Investment Management holds 3,090K shares representing 2.67% ownership of the company.
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