The closing price of Prime Medicine Inc (NASDAQ: PRME) was $5.75 for the day, down -0.69% from the previous closing price of $5.79. In other words, the price has decreased by -$0.04 from its previous closing price. On the day, 838701 shares were traded.
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 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 this company, Wedbush on April 03, 2024, initiated with a Outperform rating and assigned the stock a target price of $12.
On January 16, 2024, Stifel Downgraded its rating to Hold which previously was Buy and also lowered its target price recommendation from $18 to $9.
On December 08, 2023, Citigroup started tracking the stock assigning a Neutral rating and target price of $10.Citigroup initiated its Neutral rating on December 08, 2023, with a $10 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 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 690.85M and an Enterprise Value of 582.82M.
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 7.36, while the 200-Day Moving Average is calculated to be 9.58.
Shares Statistics:
PRME traded an average of 690.18K shares per day over the past three months and 801.83k shares per day over the past ten days. A total of 97.38M shares are outstanding, with a floating share count of 47.72M. Insiders hold about 60.22% of the company’s shares, while institutions hold 22.37% stake in the company. Shares short for PRME as of Mar 15, 2024 were 9.67M with a Short Ratio of 14.01, compared to 10.35M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 8.06% and a Short% of Float of 19.50%.
Earnings Estimates
The firm’s stock currently is rated by 5 analysts. On average, analysts expect EPS of -$0.48 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 -$1.84. EPS for the following year is -$1.67, with 6 analysts recommending between -$1.29 and -$2.01.
