Prime Medicine (NASDAQ:PRME) Trading 7.7% Higher – Time to Buy?

Prime Medicine, Inc. (NASDAQ:PRME)’s share price traded up 7.7% on Monday . The company traded as high as $3.63 and last traded at $3.63. 3,591,391 shares changed hands during trading, an increase of 26% from the average session volume of 2,859,627 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PRME shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Prime Medicine in a report on Tuesday. Wall Street Zen lowered shares of Prime Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Prime Medicine Trading Up 4.8%

The stock has a 50-day simple moving average of $4.97. The firm has a market cap of $671.50 million, a PE ratio of -2.58 and a beta of 2.64.

Prime Medicine (NASDAQ:PRME) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $1.23 million for the quarter. Prime Medicine had a negative return on equity of 163.51% and a negative net margin of 3,301.64%.

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.