Prime Medicine (NASDAQ:PRME) Trading 8.1% Higher - What's Next?

Key Points

• Prime Medicine's stock experienced an 8.1% increase, trading as high as $5.98, although the trading volume dropped significantly to 708,792 shares.
• Wall Street analysts have downgraded Prime Medicine's stock rating, with recent reports labeling it as a "sell," leading to an average rating of "Sell."
• The company, with a market cap of $831.64 million, focuses on differentiated one-time curative genetic therapies using its Prime Editing technology.

Prime Medicine, Inc. (NASDAQ:PRME - Get Free Report) shares traded up 8.1% during mid-day trading on Monday . The company traded as high as $5.98 and last traded at $5.89. 708,792 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,744,042 shares. The stock had previously closed at $5.45.

Wall Street Analysts Forecast Growth

PRME has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Prime Medicine from a "hold" rating to a "sell" rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a "sell (e+)" rating on shares of Prime Medicine in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Prime Medicine presently has an average rating of "Sell".

Prime Medicine Stock Performance

The stock has a market capitalization of $831.64 million, a PE ratio of -3.96 and a beta of 2.65.

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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