Prime Medicine (NASDAQ:PRME) Trading Up 11.1% – Here’s What Happened

Prime Medicine, Inc. (NASDAQ:PRME) shares rose 11.1% during trading on Thursday . The stock traded as high as $4.03 and last traded at $4.01. Approximately 1,117,363 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 2,900,010 shares. The stock had previously closed at $3.61.

Wall Street Analyst Weigh In

PRME has been the subject of a number of recent research reports. Wall Street Zen lowered Prime Medicine from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Prime Medicine in a research report on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Prime Medicine currently has a consensus rating of “Sell”.

Prime Medicine Trading Up 10.8%

The firm has a market capitalization of $722.04 million, a P/E ratio of -2.78 and a beta of 2.69. The business has a 50 day simple moving average of $4.75.

Prime Medicine (NASDAQ:PRME) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $1.23 million during the quarter. Prime Medicine had a negative return on equity of 163.51% and a negative net margin of 3,301.64%.

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.