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The closing price of Prime Medicine Inc (NASDAQ: PRME) was $3.35 for the day, down -6.95% from the previous closing price of $3.60. In other words, the price has decreased by -$6.95 from its previous closing price. On the day, 1.4 million shares were traded. PRME stock price reached its highest trading level at $3.61 during the session, while it also had its lowest trading level at $3.3001.
Ratios:
Our analysis of PRME’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 6.50 and its Current Ratio is at 6.50. In the meantime, Its Debt-to-Equity ratio is 0.22 whereas as Long-Term Debt/Eq ratio is at 0.19.
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, H.C. Wainwright on May 20, 2024, initiated with a Buy rating and assigned the stock a target price of $10.
On May 16, 2024, Citigroup Upgraded its rating to Buy which previously was Neutral but kept the price unchanged to $10.
On April 22, 2024, Chardan Capital Markets started tracking the stock assigning a Buy rating and target price of $17.Chardan Capital Markets initiated its Buy rating on April 22, 2024, with a $17 target price.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Feb 15 ’24 when NELSEN ROBERT bought 3,200,000 shares for $6.25 per share. The transaction valued at 20,000,000 led to the insider holds 3,200,000 shares of the business.
ARCH Venture Partners XII, LLC bought 3,200,000 shares of PRME for $20,000,000 on Feb 15 ’24. The 10% Owner now owns 3,200,000 shares after completing the transaction at $6.25 per share. On Feb 15 ’24, another insider, ARCH Venture Partners X, LLC, who serves as the 10% Owner of the company, bought 3,200,000 shares for $6.25 each. As a result, the insider paid 20,000,000 and bolstered with 3,200,000 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, PRME now has a Market Capitalization of 438733536 and an Enterprise Value of 292528224. For the stock, the TTM Price-to-Sale (P/S) ratio is 510.28 while its Price-to-Book (P/B) ratio in mrq is 2.32. Its current Enterprise Value per Revenue stands at 365.66 whereas that against EBITDA is -1.412.
Stock Price History:
Over the past 52 weeks, PRME has reached a high of $9.86, while it has fallen to a 52-week low of $3.28. The 50-Day Moving Average of the stock is -13.70%, while the 200-Day Moving Average is calculated to be -39.64%.
Shares Statistics:
PRME traded an average of 1.46M shares per day over the past three months and 1167880 shares per day over the past ten days. A total of 97.38M shares are outstanding, with a floating share count of 39.76M. Insiders hold about 67.03% of the company’s shares, while institutions hold 39.39% stake in the company. Shares short for PRME as of 1730332800 were 15794961 with a Short Ratio of 10.78, compared to 1727654400 on 16715788. Therefore, it implies a Short% of Shares Outstanding of 15794961 and a Short% of Float of 27.650000000000002.
