Wedbush Estimates Prime Medicine's Q2 Earnings (NYSE:PRME)

Prime Medicine, Inc. (NYSE:PRME - Free Report) - Equities research analysts at Wedbush raised their Q2 2025 earnings estimates for Prime Medicine in a research report issued on Wednesday, July 16th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($0.40) per share for the quarter, up from their prior estimate of ($0.41). Wedbush currently has a "Outperform" rating and a $8.00 price target on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($1.68) per share. Wedbush also issued estimates for Prime Medicine's Q3 2025 earnings at ($0.31) EPS, FY2025 earnings at ($1.39) EPS, FY2026 earnings at ($0.92) EPS, FY2027 earnings at ($0.81) EPS and FY2028 earnings at ($0.84) EPS.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities lowered their price objective on shares of Prime Medicine from $10.00 to $6.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Prime Medicine in a research report on Tuesday, May 20th. Citigroup reiterated a "neutral" rating and set a $1.50 target price (down from $10.00) on shares of Prime Medicine in a research note on Tuesday, May 27th. Chardan Capital decreased their price objective on Prime Medicine from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, HC Wainwright cut Prime Medicine from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 20th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $9.25.

Prime Medicine Stock Performance

Shares of NYSE PRME traded up $0.44 during mid-day trading on Friday, reaching $4.57. The company had a trading volume of 7,870,910 shares, compared to its average volume of 1,824,148. Prime Medicine has a twelve month low of $1.11 and a twelve month high of $5.95. The stock's 50 day moving average is $2.24 and its 200-day moving average is $2.22. The stock has a market capitalization of $614.65 million, a PE ratio of -2.23 and a beta of 2.33.

Hedge Funds Weigh In On Prime Medicine

Several large investors have recently made changes to their positions in PRME. ProShare Advisors LLC increased its holdings in Prime Medicine by 24.6% in the 4th quarter. ProShare Advisors LLC now owns 22,186 shares of the company's stock worth $65,000 after buying an additional 4,375 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Prime Medicine by 13.8% in the first quarter. Rhumbline Advisers now owns 81,900 shares of the company's stock worth $163,000 after acquiring an additional 9,944 shares during the period. American Century Companies Inc. purchased a new position in shares of Prime Medicine during the fourth quarter valued at approximately $33,000. Virtus ETF Advisers LLC lifted its position in Prime Medicine by 102.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 23,618 shares of the company's stock valued at $69,000 after purchasing an additional 11,948 shares during the period. Finally, Barclays PLC boosted its holdings in Prime Medicine by 15.3% in the fourth quarter. Barclays PLC now owns 97,621 shares of the company's stock worth $285,000 after purchasing an additional 12,924 shares during the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prime Medicine

In related news, major shareholder David R. Liu acquired 21,000 shares of Prime Medicine stock in a transaction on Monday, June 23rd. The shares were acquired at an average cost of $2.16 per share, with a total value of $45,360.00. Following the transaction, the insider owned 20,219,945 shares in the company, valued at $43,675,081.20. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 63,000 shares of company stock valued at $110,250. 22.93% of the stock is owned by company insiders.

About Prime Medicine

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.