Prime Medicine (NASDAQ:PRME) Stock Price Down 5.8% – Here’s Why

Prime Medicine, Inc. (NASDAQ:PRME) was down 5.8% during trading on Tuesday . The company traded as low as $3.59 and last traded at $3.60. Approximately 1,507,357 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 2,872,980 shares. The stock had previously closed at $3.82.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRME shares. Wall Street Zen lowered Prime Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prime Medicine in a research note on Tuesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Prime Medicine Price Performance

The company has a market cap of $666.08 million, a PE ratio of -2.56 and a beta of 2.64. The stock has a fifty day moving average of $4.96.

Prime Medicine (NASDAQ:PRME) last released its earnings results on Friday, November 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Prime Medicine had a negative return on equity of 163.51% and a negative net margin of 3,301.64%.The firm had revenue of $1.23 million for the quarter.

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.