Prime Medicine (NASDAQ:PRME) Stock Price Down 7.9% – Time to Sell?

by · The Markets Daily

Shares of Prime Medicine, Inc. (NASDAQ:PRME – Get Free Report) fell 7.9% during mid-day trading on Thursday . The company traded as low as $3.92 and last traded at $3.97. 993,904 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,195,476 shares. The stock had previously closed at $4.31.

Analysts Set New Price Targets

A number of research firms have commented on PRME. Lifesci Capital raised Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Prime Medicine in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Prime Medicine from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Prime Medicine has a consensus rating of “Moderate Buy”.

View Our Latest Stock Analysis on Prime Medicine

Prime Medicine Stock Performance

The stock’s 50 day simple moving average is $3.76. The firm has a market capitalization of $722.04 million, a P/E ratio of -2.78 and a beta of 2.71.

Prime Medicine (NASDAQ:PRME – Get Free Report) last released its earnings results on Friday, November 7th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Prime Medicine had a negative net margin of 3,301.64% and a negative return on equity of 163.51%. The company had revenue of $1.23 million for the quarter.

About Prime Medicine

(Get Free Report)

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.

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