After finishing at $7.93 in the prior trading day, Prime Medicine Inc (NASDAQ: PRME) closed at $6.89, down -13.18%. In other words, the price has decreased by -$1.04 from its previous closing price. On the day, 1033911 shares were traded. PRME stock price reached its highest trading level at $7.86 during the session, while it also had its lowest trading level at $6.77.
Ratios:
Our goal is to gain a better understanding of PRME by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.53 and its Current Ratio is at 2.53. In the meantime, Its Debt-to-Equity ratio is 0.10 whereas as Long-Term Debt/Eq ratio is at 0.03.
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 the company, Stifel on January 16, 2024, Downgraded its rating to Hold and sets its target price to $9 from $18 previously.
On December 08, 2023, Citigroup started tracking the stock assigning a Neutral rating and target price of $10.
On October 09, 2023, BMO Capital Markets started tracking the stock assigning a Outperform rating and target price of $19.BMO Capital Markets initiated its Outperform rating on October 09, 2023, with a $19 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Feb 15 ’24 when ARCH Venture Partners XII, LLC 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 X, 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, NELSEN ROBERT, who serves as the Director 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 825.78M and an Enterprise Value of 717.75M.
Stock Price History:
Over the past 52 weeks, PRME has reached a high of $17.20, while it has fallen to a 52-week low of $5.54. The 50-Day Moving Average of the stock is 7.67, while the 200-Day Moving Average is calculated to be 10.21.
Shares Statistics:
The stock has traded on average 657.39K shares per day over the past 3-months and 551.79k shares per day over the last 10 days, according to various share statistics. A total of 97.38M shares are outstanding, with a floating share count of 38.74M. Insiders hold about 60.22% of the company’s shares, while institutions hold 27.55% stake in the company. Shares short for PRME as of Feb 29, 2024 were 9.22M with a Short Ratio of 14.03, compared to 9.11M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 7.69% and a Short% of Float of 18.60%.
Earnings Estimates
Its stock is currently analyzed by 4 different market analysts. On average, analysts expect EPS of -$0.49 for the current quarter, with a high estimate of -$0.41 and a low estimate of -$0.57, while EPS last year was -$0.44. The consensus estimate for the next quarter is -$0.44, with high estimates of -$0.41 and low estimates of -$0.47.
Analysts are recommending an EPS of between -$1.65 and -$2.18 for the fiscal current year, implying an average EPS of -$1.85. EPS for the following year is -$1.67, with 5 analysts recommending between -$1.29 and -$2.01.
