Keep an eye on Prime Medicine (PRME).
For one, it’s just starting to pivot from recent lows. Two, Alphabet just bought another 3.2 million shares of Prime Medicine, raising its stake to 15.1 million shares, a 12.6% stake.
Other shareholders include Cathie Wood’s ARK Invest, which just increased its stake by 90.98%, or by 2.86 million shares. Jim Simons’ Renaissance Technologies increased its stake by 580%, or by 309,110 shares.
Two, it could be a leader in the prime editing market. As noted by Dae Gon Ha, an analyst at Stiel, as quoted by BioPharmaDive.com: “Our view is that FDA is increasingly comfortable with gene editing technologies,” Ha wrote in a note to clients. “What’s important is that with the … clearance, prime editing is one-step closer to becoming an important toolkit as a therapeutic.”
In addition, Prime Medicine just posted new preclinical data demonstrating the ability of its ex vivo Prime Editing program, PM359, to correct a common disease-causing mutation of chronic granulomatous disease (CGD).