FY2025 EPS Forecast for Prime Medicine Decreased by Analyst

Prime Medicine, Inc. (NYSE:PRME) – Equities researchers at Chardan Capital decreased their FY2025 earnings per share (EPS) estimates for shares of Prime Medicine in a report released on Monday, November 10th. Chardan Capital analyst G. Livshits now anticipates that the company will post earnings per share of ($1.30) for the year, down from their previous estimate of ($1.14). Chardan Capital has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.68) per share.

PRME has been the topic of several other research reports. Citigroup lowered their price target on shares of Prime Medicine from $5.00 to $4.25 and set a “neutral” rating on the stock in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Prime Medicine in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.21.

Prime Medicine Stock Down 9.4%

Shares of NYSE:PRME opened at $3.55 on Thursday. The firm has a market capitalization of $477.74 million, a PE ratio of -1.73 and a beta of 2.64. Prime Medicine has a twelve month low of $1.11 and a twelve month high of $6.94. The company has a 50-day moving average price of $4.99 and a two-hundred day moving average price of $3.50.

Institutional Trading of Prime Medicine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alphabet Inc. grew its position in Prime Medicine by 10.0% in the third quarter. Alphabet Inc. now owns 16,562,498 shares of the company’s stock worth $91,756,000 after acquiring an additional 1,500,000 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Prime Medicine by 135.8% in the 3rd quarter. ARK Investment Management LLC now owns 5,477,851 shares of the company’s stock worth $30,347,000 after purchasing an additional 3,155,182 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Prime Medicine by 35.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,921,865 shares of the company’s stock valued at $27,267,000 after buying an additional 1,294,355 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Prime Medicine by 4.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,143,096 shares of the company’s stock worth $8,245,000 after buying an additional 165,268 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Prime Medicine by 127.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,629,924 shares of the company’s stock worth $20,110,000 after buying an additional 2,035,406 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Prime Medicine Company Profile

Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address the spectrum of diseases by deploying gene editing technology. The company offers Prime Editors with a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme; and a pegRNA, which targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence.