Prime Medicine (NASDAQ:PRME) Shares Gap Up – Still a Buy?

Prime Medicine, Inc. (NASDAQ:PRME) shares gapped up before the market opened on Monday . The stock had previously closed at $3.81, but opened at $4.09. Prime Medicine shares last traded at $3.90, with a volume of 1,093,328 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRME shares. Wall Street Zen lowered shares of Prime Medicine from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Prime Medicine in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Prime Medicine Stock Performance

The firm has a market capitalization of $495.22 million, a P/E ratio of -2.56 and a beta of 2.64. The business’s 50-day moving average is $5.00.

Prime Medicine (NASDAQ:PRME) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $1.23 million for the quarter. Prime Medicine had a negative return on equity of 184.47% and a negative net margin of 3,301.64%.

Prime Medicine Company Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology.