While Prime Medicine Inc has underperformed by -0.31%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRME fell by -51.97%, with highs and lows ranging from $9.86 to $3.14, whereas the simple moving average fell by -42.45% in the last 200 days.
On May 20, 2024, H.C. Wainwright started tracking Prime Medicine Inc (NASDAQ: PRME) recommending Buy. A report published by Citigroup on May 16, 2024, Upgraded its rating to ‘Buy’ for PRME. Chardan Capital Markets also rated PRME shares as ‘Buy’, setting a target price of $17 on the company’s shares in an initiating report dated April 22, 2024. Wedbush initiated its ‘Outperform’ rating for PRME, as published in its report on April 03, 2024. Stifel’s report from January 16, 2024 suggests a price prediction of $9 for PRME shares, giving the stock a ‘Hold’ rating. Citigroup also rated the stock as ‘Neutral’.
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Analysis of Prime Medicine Inc (PRME)
One of the most important indicators of Prime Medicine Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -114.35% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.50, 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.
For any stock, average volume can also provide valuable insight into volatility, and PRME is recording 1.50M average volume. On a monthly basis, the volatility of the stock is set at 8.32%, whereas on a weekly basis, it is put at 10.37%, with a loss of -26.62% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.64, showing growth from the present price of $3.17, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of 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 61.20%. 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 39.39% 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 39.39% at present.
