Prime Medicine (NASDAQ:PRME) Shares Up 7.7% – Should You Buy?

Prime Medicine, Inc. (NASDAQ:PRME)’s stock price traded up 7.7% during trading on Monday . The company traded as high as $3.63 and last traded at $3.63. 3,591,391 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 2,859,627 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Prime Medicine in a research note on Wednesday, October 8th. Wall Street Zen downgraded Prime Medicine from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Prime Medicine currently has an average rating of “Sell”.

Prime Medicine Stock Up 13.4%

The firm’s 50 day moving average price is $4.98. The company has a market cap of $689.55 million, a price-to-earnings ratio of -2.65 and a beta of 2.64.

Prime Medicine (NASDAQ:PRME) last announced its earnings results on Friday, November 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Prime Medicine had a negative net margin of 3,301.64% and a negative return on equity of 163.51%. The company had revenue of $1.23 million during the quarter.

About Prime Medicine

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology.