Prime Medicine (NASDAQ:PRME) Issues Earnings Results, Misses Expectations By $0.04 EPS

Prime Medicine (NASDAQ:PRME) issued its earnings results on Friday. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04), Zacks reports. Prime Medicine had a negative return on equity of 156.16% and a negative net margin of 4,016.83%.The company had revenue of $1.23 million during the quarter.

Prime Medicine Stock Performance

Shares of PRME traded down $0.37 during trading hours on Friday, reaching $3.81. 5,938,988 shares of the company’s stock traded hands, compared to its average volume of 3,794,199. The firm’s 50 day simple moving average is $5.00. The company has a market capitalization of $512.73 million, a PE ratio of -2.44 and a beta of 2.64. Prime Medicine has a 12 month low of $1.11 and a 12 month high of $6.94.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRME. Weiss Ratings reissued a “sell (e+)” rating on shares of Prime Medicine in a report on Wednesday, October 8th. Wall Street Zen cut shares of Prime Medicine from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Prime Medicine Company Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology.