Prime Medicine Inc (NASDAQ: PRME) – Analyst View Is Different Today

In the last trading session, 1.72 million shares of the Prime Medicine Inc (NASDAQ:PRME) were traded, and its beta was 1.77. Most recently the company’s share price was $6.32, and it changed around -$0.44 or -6.51% from the last close, which brings the market valuation of the company to $758.02M. PRME currently trades at a discount to its 52-week high of $17.20, offering almost -172.15% off that amount. The share price’s 52-week low was $5.54, which indicates that the current value has risen by an impressive 12.34% since then. We note from Prime Medicine Inc’s average daily trading volume that its 10-day average is 0.59 million shares, with the 3-month average coming to 644.30K.

Prime Medicine Inc (NASDAQ:PRME) trade information

Instantly PRME has showed a red trend with a performance of -6.51% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -28.67% year-to-date, but still down -8.01% over the last five days. On the other hand, Prime Medicine Inc (NASDAQ:PRME) is -27.69% down in the 30-day period. We can see from the shorts that 9.67 million shares have been sold at a short interest cover period of 10.86 day(s).

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The consensus price target as assigned by Wall Street analysts is $18, which translates to bulls needing to increase their stock price by 64.89% from its current value. Analyst projections state that PRME is forecast to be at a low of $12 and a high of $23.

Prime Medicine Inc (PRME) estimates and forecasts

Prime Medicine Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -33.75 percent over the past six months and at a 9.85% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -11.40% in revenue this quarter, and will report an increase of 6.40% in the next quarter.

4 analysts expect Prime Medicine Inc to make $3.75 million in revenue for the quarter ending Jun 2024.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -193.88%.

PRME Dividends

Prime Medicine Inc’s next quarterly earnings report is expected to be released in May.

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

Upon looking at major shareholders, it appears that insiders hold 25.02% of Prime Medicine Inc shares, and 53.74% of them are in the hands of institutional investors. The stock currently has a share float of 71.67%. Prime Medicine Inc stock is held by 145 institutions, with Alphabet Inc. being the largest institutional investor. By Jun 29, 2023, it held 12.19% of the shares, which is about 11.86 million shares worth $173.79 million.

FMR, LLC, with 4.15% or 4.04 million shares worth $59.17 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 2.3 million shares worth $21.91 million, making up 2.36% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.36 million shares worth around $19.98 million, which represents about 1.40% of the total shares outstanding.