Prime Medicine (NASDAQ:PRME) Shares Gap Up – Here’s Why

Posted by Geri Gentry on Aug 21st, 2026

Prime Medicine, Inc. (NASDAQ:PRME – Get Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $3.05, but opened at $3.29. Prime Medicine shares last traded at $3.4050, with a volume of 1,176,282 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRME shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Prime Medicine in a research report on Monday, August 10th. Wall Street Zen raised Prime Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. The Goldman Sachs Group set a $6.00 target price on Prime Medicine in a research note on Monday, June 22nd. TD Cowen reaffirmed a “buy” rating on shares of Prime Medicine in a report on Wednesday, July 8th. Finally, BMO Capital Markets started coverage on Prime Medicine in a research report on Tuesday. They issued an “outperform” rating and a $9.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.69.

Check Out Our Latest Analysis on Prime Medicine

Prime Medicine Stock Performance

The company’s 50 day moving average is $3.30 and its 200 day moving average is $3.42. The stock has a market capitalization of $587.67 million, a price-to-earnings ratio of -3.06 and a beta of 2.31.

Prime Medicine (NASDAQ:PRME – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.24). Prime Medicine had a negative net margin of 4,613.11% and a negative return on equity of 188.27%. The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $4.40 million. On average, equities research analysts anticipate that Prime Medicine, Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prime Medicine

A number of institutional investors have recently added to or reduced their stakes in PRME. Creative Planning acquired a new position in Prime Medicine in the 2nd quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Prime Medicine during the 4th quarter worth approximately $31,000. Royal Bank of Canada grew its holdings in shares of Prime Medicine by 89.3% during the 1st quarter. Royal Bank of Canada now owns 9,254 shares of the company’s stock worth $32,000 after purchasing an additional 4,365 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Prime Medicine during the fourth quarter valued at approximately $33,000. Finally, Glen Eagle Advisors LLC bought a new stake in shares of Prime Medicine during the fourth quarter valued at approximately $35,000. 70.37% of the stock is owned by institutional investors and hedge funds.

About Prime Medicine

(Get Free Report)

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. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.