While Prime Medicine Inc has underperformed by -1.74%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRME fell by -67.32%, with highs and lows ranging from $17.20 to $4.56, whereas the simple moving average fell by -50.77% in the last 200 days.
On April 08, 2024, TD Cowen started tracking Prime Medicine Inc (NASDAQ: PRME) recommending Buy. A report published by Wedbush on April 03, 2024, Initiated its previous ‘Outperform’ rating for PRME. Stifel also Downgraded PRME shares as ‘Hold’, setting a target price of $9 on the company’s shares in a report dated January 16, 2024. Citigroup Initiated an Neutral rating on December 08, 2023, and assigned a price target of $10. BMO Capital Markets initiated its ‘Outperform’ rating for PRME, as published in its report on October 09, 2023. Guggenheim’s report from July 31, 2023 suggests a price prediction of $24 for PRME shares, giving the stock a ‘Buy’ rating. Stifel also rated the stock as ‘Buy’.
Analysis of Prime Medicine Inc (PRME)
Prime Medicine Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. 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.
The average volume for any stock is also a very valuable indicator of volatility, and PRME has an average volume of 692.37K. On a monthly basis, the volatility of the stock is set at 6.46%, whereas on a weekly basis, it is put at 7.15%, with a loss of -21.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.71, showing growth from the present price of $4.51, 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 analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 58.50%. 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 27.57% 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 27.57% at present.
