HC Wainwright Predicts Prime Medicine Q1 Earnings

Prime Medicine, Inc. (NASDAQ:PRME) – Analysts at HC Wainwright issued their Q1 2027 earnings per share estimates for Prime Medicine in a research note issued to investors on Friday, May 8th. HC Wainwright analyst A. He anticipates that the company will post earnings of ($0.29) per share for the quarter. The consensus estimate for Prime Medicine’s current full-year earnings is ($0.92) per share. HC Wainwright also issued estimates for Prime Medicine’s Q2 2027 earnings at ($0.29) EPS, Q3 2027 earnings at ($0.30) EPS, Q4 2027 earnings at ($0.31) EPS, FY2027 earnings at ($1.18) EPS, FY2029 earnings at ($0.85) EPS and FY2030 earnings at ($0.67) EPS.

PRME has been the subject of several other research reports. Wall Street Zen upgraded Prime Medicine from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 5th. Oppenheimer initiated coverage on Prime Medicine in a research report on Thursday, March 12th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Lifesci Capital raised Prime Medicine to a “strong-buy” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.38.

Prime Medicine Stock Performance

Shares of PRME stock opened at $3.24 on Tuesday. Prime Medicine has a fifty-two week low of $1.11 and a fifty-two week high of $6.94. The stock has a 50 day moving average price of $3.67 and a two-hundred day moving average price of $3.81. The company has a market capitalization of $585.21 million, a P/E ratio of -2.63 and a beta of 2.35.

Prime Medicine (NASDAQ:PRME) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Prime Medicine had a negative net margin of 4,917.55% and a negative return on equity of 188.82%. The company had revenue of $0.86 million during the quarter.

Hedge Funds Weigh In On Prime Medicine

Several hedge funds have recently made changes to their positions in the business. Alphabet Inc. grew its stake in Prime Medicine by 10.0% in the third quarter. Alphabet Inc. now owns 16,562,498 shares of the company’s stock worth $91,756,000 after purchasing an additional 1,500,000 shares during the period. ARK Investment Management LLC grew its stake in Prime Medicine by 135.8% in the third quarter. ARK Investment Management LLC now owns 5,477,851 shares of the company’s stock worth $30,347,000 after purchasing an additional 3,155,182 shares during the period. Farallon Capital Management LLC grew its stake in Prime Medicine by 533.3% in the third quarter. Farallon Capital Management LLC now owns 4,750,000 shares of the company’s stock worth $26,315,000 after purchasing an additional 4,000,000 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Prime Medicine by 127.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,629,924 shares of the company’s stock worth $20,110,000 after acquiring an additional 2,035,406 shares in the last quarter. Finally, Casdin Capital LLC boosted its holdings in Prime Medicine by 102.1% in the third quarter. Casdin Capital LLC now owns 3,167,175 shares of the company’s stock worth $17,546,000 after acquiring an additional 1,600,000 shares in the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

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.