In spite of Prime Medicine Inc.’s (NASDAQ:PRME) recent upswing, most analysts remain bearish.

In the latest session, Prime Medicine Inc. (NASDAQ: PRME) closed at $19.69 up 2.87% from its previous closing price of $19.14. In other words, the price has increased by $+0.55 from its previous closing price. On the day, 142442 shares were traded. PRME stock price reached its highest trading level at $20.43 during the session, while it also had its lowest trading level at $19.11.

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Ratios:

For a deeper understanding of Prime Medicine Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 6.70 and its Current Ratio is at 6.70.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Morgan Stanley on November 14, 2022, initiated with a Equal-Weight rating and assigned the stock a target price of $23.

On November 14, 2022, JP Morgan started tracking the stock assigning a Overweight rating and target price of $27.

On November 14, 2022, Jefferies started tracking the stock assigning a Buy rating and target price of $25.Jefferies initiated its Buy rating on November 14, 2022, with a $25 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Oct 24 when GV 2019 GP, L.L.C. bought 800,000 shares for $17.00 per share. The transaction valued at 13,600,000 led to the insider holds 11,522,248 shares of the business.

NELSEN ROBERT bought 800,000 shares of PRME for $13,600,000 on Oct 24. The Director now owns 6,128,297 shares after completing the transaction at $17.00 per share. On Oct 24, another insider, ARCH Venture Partners X, LLC, who serves as the 10% Owner of the company, bought 800,000 shares for $17.00 each. As a result, the insider paid 13,600,000 and bolstered with 6,128,297 shares of the company.

Stock Price History:

Over the past 52 weeks, PRME has reached a high of $21.73, while it has fallen to a 52-week low of $14.52. The 50-Day Moving Average of the stock is 18.63, while the 200-Day Moving Average is calculated to be 18.63.

Shares Statistics:

For the past three months, PRME has traded an average of 461.25K shares per day and 172.9k over the past ten days. A total of 94.34M shares are outstanding, with a floating share count of 64.67M. Insiders hold about 26.40% of the company’s shares, while institutions hold 9.77% stake in the company.