Prime Medicine Inc (NASDAQ:PRME) At $6.74: What To Do?

In last trading session, Prime Medicine Inc (NASDAQ:PRME) saw 0.46 million shares changing hands with its beta currently measuring 1.50. Company’s recent per share price level of $6.74 trading at $0.01 or 0.15% at ring of the bell on the day assigns it a market valuation of $655.94M. That closing price of PRME’s stock is at a discount of -214.54% from its 52-week high price of $21.20 and is indicating a premium of 17.8% from its 52-week low price of $5.54. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.53 million shares which gives us an average trading volume of 553.86K if we extend that period to 3-months.

Prime Medicine Inc (NASDAQ:PRME) trade information

Upright in the green during last session for gaining 0.15%, in the last five days PRME remained trading in the green while hitting it’s week-highest on Friday, 02/09/24 when the stock touched $6.74 price level, adding 2.6% to its value on the day. Prime Medicine Inc’s shares saw a change of -23.93% in year-to-date performance and have moved 1.97% in past 5-day. Prime Medicine Inc (NASDAQ:PRME) showed a performance of -22.35% in past 30-days. Number of shares sold short was 8.09 million shares which calculate 14.29 days to cover the short interests.

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Prime Medicine Inc (PRME) estimates and forecasts

Statistics highlight that Prime Medicine Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -44.44% of value to its shares in past 6 months, showing an annual growth rate of 55.61% while that of industry is 15.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 8.90% in the current quarter and calculating -15.90% decrease in the next quarter.

PRME Dividends

Prime Medicine Inc is more likely to be releasing its next quarterly report in March and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Prime Medicine Inc (NASDAQ:PRME)’s Major holders

Insiders are in possession of 31.86% of company’s total shares while institution are holding 61.19 percent of that, with stock having share float percentage of 89.80%. Investors also watch the number of corporate investors in a company very closely, which is 61.19% institutions for Prime Medicine Inc that are currently holding shares of the company. Alphabet Inc. is the top institutional holder at PRME for having 11.86 million shares of worth $173.79 million. And as of Jun 29, 2023, it was holding 12.19% of the company’s outstanding shares.

The second largest institutional holder is FMR, LLC, which was holding about 4.04 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 4.15% of outstanding shares, having a total worth of $59.17 million.

On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 2.3 million shares of worth $21.91 million or 2.36% of the total outstanding shares. The later fund manager was in possession of 1.36 million shares on Jun 29, 2023, making its stake of worth around $19.98 million in the company or a holder of 1.40% of company’s stock.

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