FY2025 EPS Estimate for Prime Medicine Decreased by Analyst

Prime Medicine, Inc. (NYSE:PRME) – Investment analysts at Chardan Capital reduced their FY2025 earnings estimates for shares of Prime Medicine in a note issued to investors on Monday, November 10th. Chardan Capital analyst G. Livshits now forecasts that the company will earn ($1.30) per share for the year, down from their prior forecast of ($1.14). Chardan Capital currently has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.68) per share.

Several other equities research analysts also recently issued reports on PRME. Wedbush reiterated an “outperform” rating and set a $8.00 price target on shares of Prime Medicine in a report on Monday. Citigroup cut their price objective on shares of Prime Medicine from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.21.

Prime Medicine Stock Performance

Shares of PRME opened at $3.55 on Thursday. Prime Medicine has a 52 week low of $1.11 and a 52 week high of $6.94. The stock has a 50 day moving average price of $4.99 and a two-hundred day moving average price of $3.50. The firm has a market capitalization of $477.74 million, a P/E ratio of -1.73 and a beta of 2.64.

Institutional Investors Weigh In On Prime Medicine

Several large investors have recently made changes to their positions in the business. Amova Asset Management Americas Inc. raised its stake in shares of Prime Medicine by 128.4% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 3,629,924 shares of the company’s stock worth $20,037,000 after purchasing an additional 2,040,807 shares during the period. ARK Investment Management LLC raised its position in Prime Medicine by 135.8% in the third quarter. ARK Investment Management LLC now owns 5,477,851 shares of the company’s stock worth $30,347,000 after acquiring an additional 3,155,182 shares during the period. Victory Capital Management Inc. purchased a new position in Prime Medicine in the third quarter valued at about $56,000. DNB Asset Management AS bought a new position in shares of Prime Medicine during the 3rd quarter valued at approximately $1,009,000. Finally, IvyRock Asset Management HK Ltd purchased a new stake in shares of Prime Medicine during the 3rd quarter worth approximately $232,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

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.