HC Wainwright Upgrades PRME to 'Buy' with $8 Target
HC Wainwright boosted its rating on PRME, setting a new price target of $8, a 115.05% upside from the current price.
Key Points
- Arthur He of HC Wainwright upgraded PRME to a 'buy' on June 29, 2026, with a price target of $8.
- HC Wainwright's $8 price target implies 115.05% upside from Prime Medicine, Inc.'s ($PRME) current $3.72 share price.
- PRME shares traded at $3.43 on Monday, reflecting market interest amid the new analyst rating.
- Recent insider activity includes multiple buys, and other analysts like Oppenheimer initiated coverage with a 'buy' rating.
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On June 29, 2026, Arthur He from HC Wainwright upgraded PRME to a 'buy' rating, setting a price target of $8. This move signals increased confidence in the company's prospects and comes as the stock traded at $3.43 on Monday.
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Analysts Set New Price Targets
On June 29, 2026, HC Wainwright & Co. upgraded PRME to a 'buy' with a price target of $8. This follows Oppenheimer's initiation of coverage with a 'buy' rating and an $11 target on March 12, 2026. Earlier, LifeSci Capital also initiated coverage with a 'buy' rating and a $6 target in December 2025. Citigroup, however, maintained a 'hold' rating with a $4.25 target in November 2025.
Insider Buying and Selling at Prime Medicine, Inc.
Insider buying activity at PRME has been notable, with several insiders purchasing 75,000 shares each on June 5, 2026. Among them were Kaye Foster-Cheek, David Schenkein, Jeffrey Marrazzo, Robert Nelsen, Wendy Chung, and Thomas Cahill, all acquiring shares without a pre-planned trading strategy.
Other Institutional Activity in PRME
Institutions have shown varied activity in PRME. BlackRock, Inc. increased its holdings by 232,865 shares, reaching a total of 8,501,708 shares valued at approximately $29.6 million, marking a 2.8% increase. State Street Corp significantly boosted its stake by 1,249,615 shares, ending with 6,345,125 shares worth about $22.1 million, a 24.5% increase. Meanwhile, T. Rowe Price Investment Management, Inc. reduced its position by 513,290 shares, leaving it with 5,481,893 shares valued at $19.1 million, an 8.6% decrease.
Bottom Line
HC Wainwright's recent upgrade of PRME to a 'buy' with an $8 target reflects growing optimism about the company's future. Investors are watching PRME closely as insider buying and institutional activity suggest mixed but generally positive sentiment. Remember, 13F filings and analyst ratings are backward-looking and might not represent the most current positions or opinions.
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