Prime Medicine (NYSE:PRME) Releases Quarterly Earnings Results

Prime Medicine (NYSE:PRME) posted its earnings results on Friday. The company reported ($1.65) EPS for the quarter, RTT News reports.

Prime Medicine Stock Performance

PRME traded up $0.02 during trading on Friday, reaching $2.32. 409,099 shares of the company’s stock were exchanged, compared to its average volume of 990,281. The company’s fifty day moving average price is $2.80 and its 200-day moving average price is $3.37. The firm has a market capitalization of $304.29 million, a PE ratio of -1.12 and a beta of 1.86. Prime Medicine has a fifty-two week low of $2.12 and a fifty-two week high of $8.58.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Guggenheim reiterated a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. JMP Securities started coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price target on the stock. Citizens Jmp raised shares of Prime Medicine to a “strong-buy” rating in a research note on Tuesday, December 10th. Wedbush reissued an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prime Medicine has an average rating of “Moderate Buy” and an average target price of $13.13.

About Prime Medicine

Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address the spectrum of diseases by deploying gene editing technology. The company offers Prime Editors with a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme; and a pegRNA, which targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence.