Prime Medicine (NASDAQ:PRME) Trading Down 6.3% – Here’s What Happened
by Michael Walen · The Markets DailyPrime Medicine, Inc. (NASDAQ:PRME – Get Free Report)’s stock price was down 6.3% during mid-day trading on Wednesday . The company traded as low as $3.76 and last traded at $3.7940. Approximately 982,980 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 3,036,789 shares. The stock had previously closed at $4.05.
Analysts Set New Price Targets
A number of brokerages have recently commented on PRME. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prime Medicine in a report on Monday, December 29th. Lifesci Capital raised shares of 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 and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.
Prime Medicine Price Performance
The firm has a fifty day moving average price of $3.85. The company has a market cap of $681.58 million, a price-to-earnings ratio of -2.79 and a beta of 2.56.
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.