A share price of Prime Medicine Inc [PRME] is currently trading at $3.96, up 5.04%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The PRME shares have gain 11.24% over the last week, with a monthly amount drifted -1.00%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Prime Medicine Inc [NASDAQ: PRME] stock has seen the most recent analyst activity on May 20, 2024, when H.C. Wainwright initiated its Buy rating and assigned the stock a price target of $10. Previously, Citigroup upgraded its rating to Buy on May 16, 2024, and kept the price target unchanged to $10. On April 22, 2024, Chardan Capital Markets initiated with a Buy rating and assigned a price target of $17 on the stock. TD Cowen started tracking the stock assigning a Buy rating. Wedbush initiated its recommendation with a Outperform and recommended $12 as its price target on April 03, 2024. Stifel downgraded its rating to Hold for this stock on January 16, 2024, and downed its price target to $9. In a note dated December 08, 2023, Citigroup initiated an Neutral rating and provided a target price of $10 on this stock.
Prime Medicine Inc experienced fluctuations in its stock price throughout the past year between $3.28 and $9.86. Currently, Wall Street analysts expect the stock to reach $17.25 within the next 12 months. Prime Medicine Inc [NASDAQ: PRME] shares were valued at $3.96 at the most recent close of the market. An investor can expect a potential return of 335.61% based on the average PRME price forecast.
Analyzing the PRME fundamentals
Gross Profit Margin for this corporation currently stands at 0.95% with Operating Profit Margin at -5.6%, Pretax Profit Margin comes in at -5.45%, and Net Profit Margin reading is -5.45%. To continue investigating profitability, this company’s Return on Assets is posted at -0.84, Equity is -1.13 and Total Capital is -0.94. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.21.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 3.80 points at the first support level, and at 3.65 for the second support level. However, for the 1st resistance point, the stock is sitting at 4.07, and for the 2nd resistance point, it is at 4.19.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Prime Medicine Inc [NASDAQ:PRME] is 8.23. In addition, the Quick Ratio stands at 8.23 and the Cash Ratio stands at 2.68. Considering the valuation of this stock, the price to sales ratio is 805.63, the price to book ratio is 2.42.
Transactions by insiders
Recent insider trading involved NELSEN ROBERT, Director, that happened on Feb 15 ’24 when 3.2 million shares were purchased. 10% Owner, ARCH Venture Partners XII, LLC completed a deal on Feb 15 ’24 to buy 3.2 million shares. Meanwhile, 10% Owner ARCH Venture Partners X, LLC bought 3.2 million shares on Feb 15 ’24.
