Prime Medicine Inc (PRME) Stock: Navigating the Market Volatility

The stock of Prime Medicine Inc (PRME) has seen a -8.01% decrease in the past week, with a -27.69% drop in the past month, and a -28.67% decrease in the past quarter. The volatility ratio for the week is 6.69%, and the volatility levels for the past 30 days are at 7.28% for PRME. The simple moving average for the last 20 days is -15.17% for PRME stock, with a simple moving average of -35.24% for the last 200 days.

Is It Worth Investing in Prime Medicine Inc (NASDAQ: PRME) Right Now?

Company’s 36-month beta value is 1.77.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for PRME is 47.72M, and currently, short sellers hold a 20.26% ratio of that floaft. The average trading volume of PRME on April 03, 2024 was 644.30K shares.

PRME) stock’s latest price update

The stock of Prime Medicine Inc (NASDAQ: PRME) has decreased by -6.51 when compared to last closing price of 6.76. Despite this, the company has experienced a -8.01% fall in its stock price over the last five trading sessions. The Motley Fool reported 2024-03-27 that Small-cap growth stocks could be on the brink of a major trend reversal. Prime Medicine and Tilray Brands, two small-cap stocks that appear significantly undervalued, could be smart buys ahead of a potential upswing in this group of stocks.

Analysts’ Opinion of PRME

Many brokerage firms have already submitted their reports for PRME stocks, with Stifel repeating the rating for PRME by listing it as a “Hold.” The predicted price for PRME in the upcoming period, according to Stifel is $9 based on the research report published on January 16, 2024 of the current year 2024.

Citigroup, on the other hand, stated in their research note that they expect to see PRME reach a price target of $10. The rating they have provided for PRME stocks is “Neutral” according to the report published on December 08th, 2023.

BMO Capital Markets gave a rating of “Outperform” to PRME, setting the target price at $19 in the report published on October 09th of the previous year.

PRME Trading at -14.75% 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 -63.26% of loss for the given period.

Volatility was left at 7.28%, however, over the last 30 days, the volatility rate increased by 6.69%, as shares sank -27.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.77% lower at present.

During the last 5 trading sessions, PRME fell by -8.01%, which changed the moving average for the period of 200-days by -57.38% in comparison to the 20-day moving average, which settled at $7.33. In addition, Prime Medicine Inc saw -28.67% 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 ARCH Venture Partners XII, LLC, who purchase 3,200,000 shares at the price of $6.25 back on Feb 15 ’24. After this action, ARCH Venture Partners XII, LLC now owns 3,200,000 shares of Prime Medicine Inc, valued at $20,000,000 using the latest closing price.

ARCH Venture Partners X, LLC, the 10% Owner of Prime Medicine Inc, purchase 3,200,000 shares at $6.25 during a trade that took place back on Feb 15 ’24, which means that ARCH Venture Partners X, LLC is holding 3,200,000 shares at $20,000,000 based on the most recent closing price.

Stock Fundamentals for PRME

The total capital return value is set at -1.39. Equity return is now at value -88.19, with -52.99 for asset returns.

Based on Prime Medicine Inc (PRME), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at -12.13. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is 440.76.

Currently, EBITDA for the company is -186.64 million with net debt to EBITDA at 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.53.

Conclusion

In a nutshell, Prime Medicine Inc (PRME) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.

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