FY2024 EPS Estimates for Prime Medicine Reduced by Analyst

Prime Medicine, Inc. (NYSE:PRME) – Stock analysts at HC Wainwright reduced their FY2024 earnings estimates for shares of Prime Medicine in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. He now expects that the company will earn ($1.69) per share for the year, down from their prior estimate of ($1.68). HC Wainwright has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.75) per share. HC Wainwright also issued estimates for Prime Medicine’s Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.30) EPS, Q4 2025 earnings at ($0.31) EPS, FY2025 earnings at ($1.33) EPS, FY2026 earnings at ($1.39) EPS, FY2027 earnings at ($1.39) EPS and FY2028 earnings at ($1.16) EPS.

PRME has been the subject of several other research reports. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Thursday. Wedbush restated an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a report on Thursday, August 8th. Finally, Chardan Capital dropped their price target on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.25.

Prime Medicine Trading Down 7.0 %

Prime Medicine stock opened at $3.35 on Friday. Prime Medicine has a 52 week low of $3.28 and a 52 week high of $9.86. The stock has a fifty day moving average price of $3.88 and a 200 day moving average price of $5.02. The firm has a market capitalization of $438.73 million, a P/E ratio of -1.63 and a beta of 2.09.

Institutional Trading of Prime Medicine

Institutional investors have recently made changes to their positions in the stock. ORG Partners LLC acquired a new position in shares of Prime Medicine in the 2nd quarter worth approximately $29,000. National Bank of Canada FI bought a new position in shares of Prime Medicine in the second quarter valued at $34,000. Nisa Investment Advisors LLC lifted its position in shares of Prime Medicine by 22,652.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock valued at $40,000 after acquiring an additional 7,702 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Prime Medicine during the 3rd quarter worth $45,000. Finally, Intech Investment Management LLC acquired a new position in shares of Prime Medicine in the 3rd quarter worth $55,000. 70.37% of the stock is owned by institutional investors and hedge funds.

About Prime Medicine

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.