Prime Medicine (NASDAQ:PRME) Shares Up 8.4% – Should You Buy?

Prime Medicine, Inc. (NASDAQ:PRME)’s share price traded up 8.4% during mid-day trading on Wednesday . The stock traded as high as $4.52 and last traded at $4.51. 1,555,082 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 3,151,651 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Lifesci Capital raised shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prime Medicine in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Prime Medicine from a “hold” rating to a “sell” rating in a research 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 presently has a consensus rating of “Moderate Buy”.

Prime Medicine Stock Up 5.5%

The firm’s 50-day moving average price is $3.76. The firm has a market cap of $792.44 million, a PE ratio of -3.05 and a beta of 2.71.

Prime Medicine (NASDAQ:PRME) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $1.23 million during the quarter. Prime Medicine had a negative net margin of 3,301.64% and a negative return on equity of 163.51%.

About Prime Medicine

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.