Prime Medicine (NASDAQ:PRME) Shares Gap Down - Time to Sell?

Key Points

• Prime Medicine's shares gapped down before trading on Thursday, opening at $5.16 after closing at $5.56, marking a current trade at $5.15 with significant volume of 785,737 shares.
• Wall Street analysts have downgraded Prime Medicine from a "hold" to a "sell" rating, reflecting a lack of investor confidence.
• The company's market cap stands at approximately $702.46 million, with a notably low PE ratio of -3.35, indicating financial challenges.

Prime Medicine, Inc. (NASDAQ:PRME - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $5.56, but opened at $5.16. Prime Medicine shares last traded at $5.15, with a volume of 785,737 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Prime Medicine from a "hold" rating to a "sell" rating in a research note on Tuesday, September 2nd.

Prime Medicine Stock Down 6.1%

The company has a market cap of $702.46 million, a PE ratio of -3.35 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.

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