While Prime Medicine Inc has underperformed by -0.69%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRME fell by -50.60%, with highs and lows ranging from $17.20 to $5.54, whereas the simple moving average fell by -40.26% in the last 200 days.
On April 03, 2024, Wedbush started tracking Prime Medicine Inc (NASDAQ: PRME) recommending Outperform. A report published by Stifel on January 16, 2024, Downgraded its rating to ‘Hold’ for PRME. Citigroup also rated PRME shares as ‘Neutral’, setting a target price of $10 on the company’s shares in an initiating report dated December 08, 2023. BMO Capital Markets Initiated an Outperform rating on October 09, 2023, and assigned a price target of $19. Guggenheim initiated its ‘Buy’ rating for PRME, as published in its report on July 31, 2023. Stifel’s report from April 18, 2023 suggests a price prediction of $18 for PRME shares, giving the stock a ‘Buy’ rating. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of Prime Medicine Inc (PRME)
In order to gain a clear picture of Prime Medicine Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -88.19% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.53, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 690.18K can be a very valuable indicator of volatility for PRME stock. On a monthly basis, the volatility of the stock is set at 7.25%, whereas on a weekly basis, it is put at 7.70%, with a loss of -17.86% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.25, showing growth from the present price of $5.75, which can serve as yet another indication of whether PRME is worth investing in or should be passed over.
How Do You Analyze Prime Medicine Inc Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 60.22%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 22.37% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PRME shares are owned by institutional investors to the tune of 22.37% at present.
