Prime Medicine (NASDAQ:PRME) Shares Up 3.9% - Here's Why

Key Points

• Prime Medicine's shares increased by 3.9% during mid-day trading, reaching a last trade price of $5.53.
• The company experienced a significant drop in trading volume, with 414,733 shares traded, 84% lower than the average daily volume of 2,614,464 shares.
• Wall Street Zen downgraded Prime Medicine from a "hold" to a "sell" rating, reflecting changing analyst sentiments towards the stock.

Prime Medicine, Inc. (NASDAQ:PRME - Get Free Report) shares were up 3.9% during mid-day trading on Tuesday . The stock traded as high as $5.54 and last traded at $5.53. Approximately 414,733 shares were traded during trading, a decline of 84% from the average daily volume of 2,614,464 shares. The stock had previously closed at $5.32.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Prime Medicine from a "hold" rating to a "sell" rating in a research report on Tuesday, September 2nd.

Prime Medicine Price Performance

The firm has a market cap of $736.12 million, a price-to-earnings ratio of -3.51 and a beta of 2.38.

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.

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