Prime Medicine (NASDAQ:PRME) Stock Price Up 1.2% – Still a Buy?

Prime Medicine, Inc. (NASDAQ:PRME) was up 1.2% during trading on Thursday . The stock traded as high as $3.35 and last traded at $3.33. Approximately 1,399,993 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 2,446,475 shares. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

PRME has been the subject of several research reports. Wall Street Zen downgraded shares of Prime Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prime Medicine in a research report on Monday, December 29th. Finally, Lifesci Capital upgraded Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Prime Medicine Price Performance

The stock has a market capitalization of $601.10 million, a price-to-earnings ratio of -2.31 and a beta of 2.70. The business’s fifty day simple moving average is $3.76.

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. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.