Prime Medicine (NASDAQ:PRME) Issues Earnings Results

by · The Markets Daily

Prime Medicine (NASDAQ:PRME – Get Free Report) released its earnings results on Friday. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04), Zacks reports. Prime Medicine had a negative return on equity of 156.16% and a negative net margin of 4,016.83%.The company had revenue of $1.23 million during the quarter.

Prime Medicine Stock Down 8.9%

PRME traded down $0.37 during midday trading on Friday, hitting $3.81. 5,938,988 shares of the company traded hands, compared to its average volume of 3,794,199. The firm has a 50-day moving average of $5.00. The firm has a market cap of $512.73 million, a price-to-earnings ratio of -2.44 and a beta of 2.64. Prime Medicine has a 52 week low of $1.11 and a 52 week high of $6.94.

Analysts Set New Price Targets

PRME has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prime Medicine in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Prime Medicine from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Prime Medicine has a consensus rating of “Sell”.

Check Out Our Latest Stock Analysis on Prime Medicine

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.

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