Prime Medicine (NASDAQ:PRME) Stock Price Down 3.7% After Analyst Downgrade

Key Points

• Prime Medicine shares fell by 3.7% following a downgrade from a hold to a sell rating by Wall Street Zen.
• The company's stock traded as low as $3.09 during the session, with an average trading volume decline of 4%.
• Prime Medicine, with a market cap of $419.86 million, focuses on delivering one-time curative genetic therapies through its Prime Editing technology.

Shares of Prime Medicine, Inc. (NASDAQ:PRME - Get Free Report) were down 3.7% during trading on Tuesday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The stock traded as low as $3.09 and last traded at $3.12. Approximately 3,103,838 shares traded hands during trading, a decline of 4% from the average daily volume of 3,243,728 shares. The stock had previously closed at $3.24.

Prime Medicine Trading Up 9.4%

The stock has a market capitalization of $500.60 million, a P/E ratio of -2.38 and a beta of 2.38.

About Prime Medicine

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.