Prime Medicine (PRME) Stock Price, News & Analysis

Company Overview

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. It has a research collaboration with Cimeio Therapeutics to develop Prime Edited Shielded-Cell & Immunotherapy Pairs for genetic diseases, acute myeloid leukemia, and myelodysplastic syndrome. The company was incorporated in 2019 and is based in Cambridge, Massachusetts.

Key Stats

• Today's Range: $3.30 to $3.61
• 50-Day Range: $3.35 to $4.46
• 52-Week Range: $3.28 to $9.86
• Volume: 1.40 million shs
• Average Volume: 1.07 million shs
• Market Capitalization: $438.73 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $13.25
• Consensus Rating: Moderate Buy

Prime Medicine Stock Analysis - MarketRank™

Prime Medicine scored higher than 61% of companies evaluated by MarketBeat, and ranked 472nd out of 971 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Prime Medicine has received a consensus rating of Moderate Buy. The company's average rating score is 2.89, and is based on 8 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Prime Medicine has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Prime Medicine are expected to grow in the coming year, from ($1.75) to ($1.42) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Prime Medicine is -1.63, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Prime Medicine is -1.63, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Prime Medicine has a P/B Ratio of 2.32. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: N/A
• Short Interest Level: N/A

Short Interest

There is no current short interest data available for PRME.

Dividend

• Score: 0.0 / 5
• Dividend Strength: Weak

Dividend Yield

Prime Medicine does not currently pay a dividend.

Dividend Growth

Prime Medicine does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Short Interest

There is no current short interest data available for PRME.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 0.19

News Sentiment

Prime Medicine has a news sentiment score of 0.19. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.55 average news sentiment score of Medical companies.

News Coverage This Week

MarketBeat has tracked 20 news articles for Prime Medicine this week, compared to 3 articles on an average week.

Search Interest

6 people have searched for PRME on MarketBeat in the last 30 days. This is an increase of 20% compared to the previous 30 days.

MarketBeat Follows

2 people have added Prime Medicine to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

Company Ownership

• Score: 3.3 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Prime Medicine insiders have not sold or bought any company stock.

Percentage Held by Insiders

23.47% of the stock of Prime Medicine is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

70.37% of the stock of Prime Medicine is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PRME Stock Analysis - Frequently Asked Questions

How have PRME shares performed this year?

Prime Medicine's stock was trading at $8.86 at the beginning of 2024. Since then, PRME shares have decreased by 62.2% and is now trading at $3.3450.
View the best growth stocks for 2024 here.

How were Prime Medicine's earnings last quarter?

Prime Medicine, Inc. (NYSE:PRME) issued its quarterly earnings data on Tuesday, November, 12th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by $0.01. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $55 million.

When did Prime Medicine IPO?

Prime Medicine (PRME) raised $175 million in an initial public offering on Thursday, October 20th 2022. The company issued 10,294,118 shares at $16.00-$18.00 per share.

Who are Prime Medicine's major shareholders?

Prime Medicine's top institutional investors include ARK Investment Management LLC (4.72%), FMR LLC (3.12%), Sumitomo Mitsui Trust Group Inc. (2.66%) and Geode Capital Management LLC (1.04%). Insiders that own company stock include Robert Nelsen and 2019 Gp LLC Gv.
View institutional ownership trends.

How do I buy shares of Prime Medicine?

Shares of PRME stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Prime Medicine own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Prime Medicine investors own include Invesco QQQ (QQQ), SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF Trust (DIA), Intel (INTC), NVIDIA (NVDA), Meta Platforms (META) and Advanced Micro Devices (AMD).

Company Calendar

• Last Earnings: 11/12/2024
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 3/07/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Medical
• Industry: Biological products, except diagnostic
• Sub-Industry: N/A
• Current Symbol: NYSE:PRME
• CUSIP: N/A
• CIK: 1894562
• Web: primemedicine.com
• Phone: 617-564-0013
• Fax: N/A
• Employees: 234
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $13.25
• High Stock Price Target: $20.00
• Low Stock Price Target: $9.00
• Potential Upside/Downside: +296.1%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.89
• Research Coverage: 9 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($2.05)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-198,130,000.00
• Net Margins: N/A
• Pretax Margin: -27,406.12%
• Return on Equity: -107.87%
• Return on Assets: -74.97%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 6.50
• Quick Ratio: 8.23

Sales & Book Value

• Annual Sales: $800,000.00
• Price / Sales: 548.42
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $1.44 per share
• Price / Book: 2.32

Miscellaneous

• Outstanding Shares: 131,161,000
• Free Float: 91,860,000
• Market Cap: $438.73 million
• Optionable: Optionable
• Beta: 2.09