Prime Medicine (NASDAQ:PRME) Trading Down 7.3% – Time to Sell?

Prime Medicine, Inc. (NASDAQ:PRME)’s stock price was down 7.3% during mid-day trading on Monday . The stock traded as low as $3.52 and last traded at $3.54. Approximately 1,343,000 shares were traded during trading, a decline of 54% from the average daily volume of 2,896,184 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Prime Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prime Medicine in a research report on Monday, November 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Prime Medicine presently has a consensus rating of “Sell”.

Prime Medicine Trading Down 6.8%

The stock has a market capitalization of $642.62 million, a PE ratio of -2.47 and a beta of 2.70. The business’s 50 day moving average price is $4.86.

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