FY2029 EPS Estimates for Prime Medicine Lowered by Analyst

Prime Medicine, Inc. (NYSE:PRME - Free Report) - HC Wainwright reduced their FY2029 earnings per share estimates for shares of Prime Medicine in a note issued to investors on Tuesday, May 20th. HC Wainwright analyst A. He now anticipates that the company will earn ($0.85) per share for the year, down from their prior estimate of ($0.80). HC Wainwright has a "Neutral" rating on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($1.68) per share.

A number of other research analysts have also weighed in on PRME. Citigroup reissued a "neutral" rating and set a $1.50 price target (down previously from $10.00) on shares of Prime Medicine in a research note on Tuesday. JMP Securities reduced their price target on Prime Medicine from $10.00 to $6.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Prime Medicine in a research note on Tuesday, May 20th. Wall Street Zen raised Prime Medicine to a "sell" rating in a research note on Tuesday, February 11th. Finally, Chardan Capital reduced their price target on Prime Medicine from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.08.

Prime Medicine Stock Performance

PRME stock traded down $0.02 on Thursday, reaching $1.28. The company had a trading volume of 805,096 shares, compared to its average volume of 1,326,289. Prime Medicine has a 1 year low of $1.11 and a 1 year high of $8.14. The company's fifty day moving average is $1.50 and its 200 day moving average is $2.40. The company has a market cap of $167.40 million, a P/E ratio of -0.62 and a beta of 1.90.

Prime Medicine (NYSE:PRME - Get Free Report) last posted its earnings results on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same quarter in the previous year, the firm earned ($2.18) earnings per share.

Institutional Trading of Prime Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in PRME. American Century Companies Inc. acquired a new stake in shares of Prime Medicine during the 4th quarter worth $33,000. Nisa Investment Advisors LLC increased its holdings in shares of Prime Medicine by 11,474.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company's stock worth $37,000 after buying an additional 12,507 shares during the last quarter. CWM LLC increased its holdings in shares of Prime Medicine by 741.5% during the 1st quarter. CWM LLC now owns 20,466 shares of the company's stock worth $41,000 after buying an additional 18,034 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Prime Medicine during the 4th quarter worth $42,000. Finally, AXQ Capital LP acquired a new stake in shares of Prime Medicine during the 4th quarter worth $45,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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.