Prime Medicine Inc (NASDAQ:PRME) price on Thursday, March 20, rose 0.50% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.01.
A look at the stock’s price movement, the close in the last trading session was $2.00, moving within a range at $1.94 and $2.2992. The beta value (5-Year monthly) was 1.853. Turning to its 52-week performance, $8.27 and $1.65 were the 52-week high and 52-week low respectively. Overall, PRME moved -38.81% over the past month.
Prime Medicine Inc’s market cap currently stands at around $263.63 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-27.
The average forecast suggests up to a 480.77% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 19.69M, representing a 560.21% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PRME is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 4 recommend PRME as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PRME’s current price about -9.39% and -22.43% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.80, while 7-day volatility ratio is 11.23% and 11.14% in the 30-day chart. Further, Prime Medicine Inc (PRME) has a beta value of 1.91, and an average true range (ATR) of 0.24. Analysts have given the company’s stock an average 52-week price target of $17, forecast between a low of $12 and high of $23. Looking at the price targets, the low is -497.01% off current price level while to achieve the yearly target high, price needs to move -1044.28%. Nonetheless, investors will most likely welcome a -745.77% jump to $17 which is the analysts’ median price.
If we refocus on Prime Medicine Inc (NASDAQ:PRME), historical trading data shows that trading volumes averaged 1.68 over the past 10 days and 1.13 million over the past 3 months. The company’s latest data on shares outstanding shows there are 131.16 million shares.
The 60.42% of Prime Medicine Inc’s shares are in the hands of company insiders while institutional holders own 31.20% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 18.04 million on 2025-02-28, giving us a short ratio of 17.29. The data shows that as of 2025-02-28 short interest in Prime Medicine Inc (PRME) stood at 2643.0 of shares outstanding, with shares short rising to 17.3 million registered in 2025-01-31. Current price change has pushed the stock -31.16% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PRME stock continues to rise going into the next quarter.
