Prime Medicine (NASDAQ:PRME) Trading Down 4.3% – What’s Next?

Posted by Brenda Bartman on Sep 11th, 2026

Shares of Prime Medicine, Inc. (NASDAQ:PRME – Get Free Report) dropped 4.3% on Friday . The stock traded as low as $3.21 and last traded at $3.2050. 591,574 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 2,885,841 shares. The stock had previously closed at $3.35.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of Prime Medicine in a research note on Monday, June 22nd. New Street Research set a $8.00 price objective on Prime Medicine in a report on Monday, June 29th. BMO Capital Markets assumed coverage on shares of Prime Medicine in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $9.00 target price on the stock. TD Cowen reaffirmed a “buy” rating on shares of Prime Medicine in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group set a $6.00 price target on shares of Prime Medicine in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.47.

Check Out Our Latest Report on Prime Medicine

Prime Medicine Price Performance

The business has a 50 day simple moving average of $3.38 and a 200 day simple moving average of $3.44. The company has a market cap of $577.70 million, a price-to-earnings ratio of -3.00 and a beta of 2.34.

Prime Medicine (NASDAQ:PRME – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.24). The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $4.40 million. Prime Medicine had a negative net margin of 4,613.11% and a negative return on equity of 188.27%. As a group, sell-side analysts anticipate that Prime Medicine, Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prime Medicine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRME. Alphabet Inc. bought a new position in Prime Medicine in the second quarter valued at approximately $61,116,000. BlackRock Inc. bought a new position in Prime Medicine during the 2nd quarter worth about $35,432,000. State Street Corp raised its stake in shares of Prime Medicine by 293.0% in the 4th quarter. State Street Corp now owns 5,095,510 shares of the company’s stock valued at $17,681,000 after purchasing an additional 3,798,884 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Prime Medicine by 6,426.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,124,362 shares of the company’s stock valued at $10,842,000 after purchasing an additional 3,076,489 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Prime Medicine during the third quarter worth about $16,634,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Company Profile

(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.