Prime Medicine (NYSE:PRME) Stock Price Up 7.3% - Here's Why

Shares of Prime Medicine, Inc. (NYSE:PRME - Get Free Report) traded up 7.3% during trading on Wednesday . The company traded as high as $4.51 and last traded at $4.4650. 1,509,973 shares were traded during mid-day trading, a decline of 52% from the average session volume of 3,151,651 shares. The stock had previously closed at $4.16.Get Prime Medicine alerts:Analyst Upgrades and Downgrades2 gene editing stocks to keep on your 2024 watchlistA number of equities analysts have weighed in on PRME shares. Lifesci Capital initiated coverage on Prime Medicine in a research report on Tuesday, December 23rd. They set an "outperform" rating and a $6.00 price target on the stock. Citigroup decreased their target price on Prime Medicine from $5.00 to $4.25 and set a "neutral" rating on the stock in a report on Tuesday, November 11th. Chardan Capital cut their price target on Prime Medicine from $10.00 to $9.00 and set a "buy" rating for the company in a report on Monday, November 10th. Finally, Wedbush reiterated an "outperform" rating and issued a $8.00 price objective on shares of Prime Medicine in a report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.21.Get Our Latest Report on PRMEPrime Medicine Price PerformanceThe business's fifty day moving average price is $3.77 and its 200 day moving average price is $4.19. The stock has a market cap of $791.54 million, a P/E ratio of -2.16 and a beta of 2.71. Institutional Inflows and OutflowsSeveral large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Prime Medicine by 1,316.4% during the third quarter. Russell Investments Group Ltd. now owns 6,827 shares of the company's stock worth $38,000 after buying an additional 6,345 shares during the period. Jones Financial Companies Lllp acquired a new stake in Prime Medicine during the 3rd quarter worth about $49,000. Sterling Investment Advisors Ltd. bought a new position in shares of Prime Medicine in the 3rd quarter worth about $55,000. Creative Planning acquired a new position in shares of Prime Medicine in the 2nd quarter valued at about $25,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Prime Medicine during the 3rd quarter valued at about $56,000. 70.37% of the stock is owned by institutional investors. Prime Medicine Company Profile (Get Free Report)Prime Medicine, Inc NYSE: PRME is a clinical-stage genetic medicines company focused on harnessing the potential of prime editing, an advanced CRISPR-derived gene editing technology. By refining the tools required for precise correction of disease-causing mutations, Prime Medicine aims to develop single-dose treatments that address underlying genetic drivers of disease. The company applies its proprietary engineering and delivery platforms to optimize on-target efficiency and minimize off-target effects, positioning itself at the forefront of next-generation gene editing therapeutics. Prime Medicine's research and development efforts span multiple therapeutic areas, including rare genetic disorders, immuno-oncology, and autoimmune diseases.See AlsoFive stocks we like better than Prime MedicineThis $15 Stock Could Go Down as the #1 Stock of 2026If You Keep Cash In A U.S. Bank Account… Read This NOWPunch these codes into your ordinary brokerage accountThis AI Opportunity Was Built to Evolve With DemandNEW LAW: Congress Approves Setup For Digital Dollar?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Prime Medicine Right Now?Before you consider Prime Medicine, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prime Medicine wasn't on the list.While Prime Medicine currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here