Prime Medicine (NASDAQ:PRME) Shares Up 1.2% – Should You Buy?

Prime Medicine, Inc. (NASDAQ:PRME)’s share price was up 1.2% during mid-day trading on Thursday . The stock traded as high as $3.35 and last traded at $3.33. Approximately 1,399,993 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 2,446,475 shares. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Lifesci Capital raised shares of Prime Medicine to a “strong-buy” rating in a 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 analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Prime Medicine Price Performance

The firm has a market cap of $590.27 million, a price-to-earnings ratio of -2.27 and a beta of 2.70. The company’s 50-day moving average price is $3.74.

Prime Medicine Company Profile

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.