The stock of Prime Medicine Inc (PRME) has seen a -13.07% decrease in the past week, with a -15.32% drop in the past month, and a -44.93% decrease in the past quarter. The volatility ratio for the week is 10.78%, and the volatility levels for the past 30 days are at 9.89% for PRME. The simple moving average for the past 20 days is -5.30% for PRME’s stock, with a -50.05% simple moving average for the past 200 days.
Is It Worth Investing in Prime Medicine Inc (NASDAQ: PRME) Right Now?
The 36-month beta value for PRME is also noteworthy at 1.11. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The average price estimated by analysts for PRME is $21.14, which is $14.62 above than the current price. The public float for PRME is 33.47M, and at present, short sellers hold a 22.75% of that float. The average trading volume of PRME on November 16, 2023 was 456.58K shares.
PRME) stock’s latest price update
The stock of Prime Medicine Inc (NASDAQ: PRME) has decreased by -7.78 when compared to last closing price of 7.07.Despite this, the company has seen a loss of -13.07% in its stock price over the last five trading days. GlobeNewsWire reported 2023-11-08 that Cambridge, Mass., Nov. 08, 2023 (GLOBE NEWSWIRE) — Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated, one-time curative genetic therapies, today announced that company management will present at two upcoming investor conferences:
Analysts’ Opinion of PRME
Many brokerage firms have already submitted their reports for PRME stocks, with BMO Capital Markets repeating the rating for PRME by listing it as a “Outperform.” The predicted price for PRME in the upcoming period, according to BMO Capital Markets is $19 based on the research report published on October 09, 2023 of the current year 2023.
PRME Trading at -26.10% from the 50-Day Moving Average
After a stumble in the market that brought PRME to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -69.64% of loss for the given period.
Volatility was left at 9.89%, however, over the last 30 days, the volatility rate increased by 10.78%, as shares sank -13.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -45.26% lower at present.
During the last 5 trading sessions, PRME fell by -13.07%, which changed the moving average for the period of 200-days by -62.91% in comparison to the 20-day moving average, which settled at $6.83. In addition, Prime Medicine Inc saw -64.91% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PRME starting from GV 2019 GP, L.L.C., who sale 19,003 shares at the price of $14.97 back on Jun 21. After this action, GV 2019 GP, L.L.C. now owns 0 shares of Prime Medicine Inc, valued at $284,496 using the latest closing price.
GV 2019 GP, L.L.C., the 10% Owner of Prime Medicine Inc, sale 37,405 shares at $15.06 during a trade that took place back on Jun 20, which means that GV 2019 GP, L.L.C. is holding 0 shares at $563,248 based on the most recent closing price.
Stock Fundamentals for PRME
The total capital return value is set at -39.18, while invested capital returns managed to touch -42.30. Equity return is now at value -93.70, with -75.60 for asset returns.
Based on Prime Medicine Inc (PRME), the company’s capital structure generated 9.09 points at debt to equity in total, while total debt to capital is 8.33. Total debt to assets is 6.67, with long-term debt to equity ratio resting at 5.39. Finally, the long-term debt to capital ratio is 4.94.
The liquidity ratio also appears to be rather interesting for investors as it stands at 11.10.
Conclusion
In summary, Prime Medicine Inc (PRME) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
