Prime Medicine FY2025 EPS Estimate Lifted by Chardan Capital

Key Points

• Analysts at Chardan Capital have raised their FY2025 earnings estimate for Prime Medicine to ($1.14) per share, up from a prior estimate of ($1.25), with a target price set at $10.00.
• Multiple analysts have adjusted their ratings for Prime Medicine, with one lowering it from "buy" to "neutral" and target prices ranging from $1.50 to $8.00.
• Insider trading activity includes significant purchases, with major shareholder David R. Liu acquiring 21,000 shares at an average cost of $2.16 per share, increasing his ownership in the company.

Prime Medicine, Inc. (NYSE:PRME - Free Report) - Investment analysts at Chardan Capital upped their FY2025 earnings per share estimates for shares of Prime Medicine in a report released on Monday, August 11th. Chardan Capital analyst G. Livshits now forecasts that the company will post earnings of ($1.14) per share for the year, up from their previous estimate of ($1.25). Chardan Capital currently has a "Buy" rating and a $10.00 price target on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($1.68) per share.

PRME has been the subject of several other research reports. JMP Securities cut their price objective on Prime Medicine from $10.00 to $6.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 20th. Citigroup restated a "neutral" rating and set a $1.50 price target (down from $10.00) on shares of Prime Medicine in a research note on Tuesday, May 27th. HC Wainwright lowered Prime Medicine from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 20th. Wedbush restated an "outperform" rating and set a $8.00 price target on shares of Prime Medicine in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Prime Medicine in a research note on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $8.92.

Prime Medicine Price Performance

Shares of NYSE PRME traded down $0.2650 during trading hours on Thursday, hitting $3.2350. 3,147,891 shares of the company's stock were exchanged, compared to its average volume of 2,515,822. Prime Medicine has a 1-year low of $1.11 and a 1-year high of $5.17. The stock has a market capitalization of $435.35 million, a price-to-earnings ratio of -1.58 and a beta of 2.39. The company's 50-day moving average price is $3.36 and its 200-day moving average price is $2.36.

Insider Buying and Selling at Prime Medicine

In related news, major shareholder Arch Venture Partners Xii, Llc purchased 3,030,300 shares of Prime Medicine stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $3.30 per share, for a total transaction of $9,999,990.00. Following the transaction, the insider directly owned 6,230,300 shares of the company's stock, valued at approximately $20,559,990. This trade represents a 94.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David R. Liu bought 21,000 shares of Prime Medicine stock in a transaction on Monday, June 23rd. The shares were acquired at an average price of $2.16 per share, for a total transaction of $45,360.00. Following the completion of the acquisition, the insider owned 20,219,945 shares of the company's stock, valued at approximately $43,675,081.20. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 3,093,300 shares of company stock worth $10,110,240 over the last 90 days. 22.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prime Medicine

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in Prime Medicine by 24.6% during the fourth quarter. ProShare Advisors LLC now owns 22,186 shares of the company's stock valued at $65,000 after acquiring an additional 4,375 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Prime Medicine by 52.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,191 shares of the company's stock worth $57,000 after acquiring an additional 7,954 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Prime Medicine by 13.8% during the 1st quarter. Rhumbline Advisers now owns 81,900 shares of the company's stock worth $163,000 after acquiring an additional 9,944 shares during the last quarter. Creative Planning purchased a new position in shares of Prime Medicine in the second quarter valued at about $25,000. Finally, Freedom Investment Management Inc. bought a new stake in shares of Prime Medicine during the 2nd quarter valued at about $26,000. Institutional investors own 70.37% of the company's stock.

Prime Medicine Company Profile

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.