Prime Medicine (NYSE:PRME) Announces Quarterly Earnings Results

Prime Medicine (NYSE:PRME) announced its quarterly earnings results on Friday. The company reported ($1.65) EPS for the quarter, RTT News reports.

Prime Medicine Stock Performance

Shares of PRME traded down $0.05 during mid-day trading on Friday, hitting $2.26. 383,524 shares of the company were exchanged, compared to its average volume of 988,404. Prime Medicine has a 1-year low of $2.12 and a 1-year high of $8.58. The stock has a market cap of $295.77 million, a price-to-earnings ratio of -1.10 and a beta of 1.86. The company has a 50 day moving average of $2.80 and a 200-day moving average of $3.37.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRME. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Prime Medicine in a research report on Monday. StockNews.com raised shares of Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Prime Medicine in a research report on Monday. Guggenheim reissued a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Prime Medicine Company Profile

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.