The stock price of Prime Medicine Inc (NASDAQ: PRME) has surged by 2.40 when compared to previous closing price of 2.92, but the company has seen a 8.33% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-26 that Prime Medicine’s proprietary Prime Editing platform offers one-time therapeutic solutions, targeting over 90% of genetic conditions across multiple tissues and development stages. PRME’s pipeline highlights PM359 for chronic granulomatous disease and preclinical programs for Wilson’s Disease, with clinical data expected in 2025. PRME’s strategic collaboration with Bristol Myers provided $55 million in cash upfront, a $55 million equity stake, $3.5B in potential milestone payments, and diversification into ex vivo T-cell therapies.
Is It Worth Investing in Prime Medicine Inc (NASDAQ: PRME) Right Now?
Moreover, the 36-month beta value for PRME is 1.86. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 4 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for PRME is 50.89M and currently, short sellers hold a 31.69% of that float. On January 03, 2025, PRME’s average trading volume was 1.28M shares.
PRME’s Market Performance
PRME stock saw a decrease of 8.33% in the past week, with a monthly decline of -13.33% and a quarterly a decrease of -12.83%. The volatility ratio for the week is 7.66%, and the volatility levels for the last 30 days are 8.15% for Prime Medicine Inc (PRME). The simple moving average for the past 20 days is 0.91% for PRME’s stock, with a -37.84% simple moving average for the past 200 days.
Analysts’ Opinion of PRME
Many brokerage firms have already submitted their reports for PRME stocks, with JMP Securities repeating the rating for PRME by listing it as a “Mkt Outperform.” The predicted price for PRME in the upcoming period, according to JMP Securities is $10 based on the research report published on December 10, 2024 of the previous year 2024.
H.C. Wainwright, 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 “Buy” according to the report published on May 20th, 2024.
Citigroup gave a rating of “Buy” to PRME, setting the target price at $10 in the report published on May 16th of the previous year.
PRME Trading at -12.88% 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 -69.40% of loss for the given period.
Volatility was left at 8.15%, however, over the last 30 days, the volatility rate increased by 7.66%, as shares sank -4.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -31.58% lower at present.
During the last 5 trading sessions, PRME rose by +8.33%, which changed the moving average for the period of 200-days by -57.41% in comparison to the 20-day moving average, which settled at $2.96. In addition, Prime Medicine Inc saw 2.40% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PRME starting from NELSEN ROBERT, who purchase 3,200,000 shares at the price of $6.25 back on Feb 15 ’24. After this action, NELSEN ROBERT now owns 3,200,000 shares of Prime Medicine Inc, valued at $20,000,000 using the latest closing price.
ARCH Venture Partners XII, 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 XII, LLC is holding 3,200,000 shares at $20,000,000 based on the most recent closing price.
Stock Fundamentals for PRME
Current profitability levels for the company are sitting at:
- -5.87 for the present operating margin
- 0.98 for the gross margin
The net margin for Prime Medicine Inc stands at -5.68. The total capital return value is set at -0.77. Equity return is now at value -114.35, with -76.67 for asset returns.
Currently, EBITDA for the company is -193.76 million with net debt to EBITDA at 0.37. When we switch over and look at the enterprise to sales, we see a ratio of 8.18. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.50.
Conclusion
To wrap up, the performance of Prime Medicine Inc (PRME) has been mixed in recent times. The stock has received a bullish of “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.
