Can Prime Medicine Inc’s (PRME) hike of 4.28% in a week be considered a lucky break?

On November 20, 2023, Prime Medicine Inc (NASDAQ: PRME) opened at $6.65, higher 5.30% from the last session. During the day, the shares moved up to $7.46 and dropped to $6.53 before settling in for the closing price of $6.60. Price fluctuations for PRME have ranged from $5.54 to $21.48 over the past 52 weeks.

Annual sales at Healthcare sector company slipped by -33.33% over the past five years. Company’s average yearly earnings per share was noted 55.22% at the time writing. With a float of $33.53 million, this company’s outstanding shares have now reached $97.21 million.

Let’s look at the performance matrix of the company that is accounted for 175 employees.

Prime Medicine Inc (PRME) Insider and Institutional Ownership

A key investor’s attitude towards the stock of the Biotechnology industry is another important factor to consider. The insider ownership of Prime Medicine Inc is 65.55%, while institutional ownership is 27.87%. The most recent insider transaction that took place on Jun 21, was worth 284,496. In this transaction 10% Owner of this company sold 19,003 shares at a rate of $14.97, taking the stock ownership to the 0 shares. Before that another transaction happened on Jun 20, when Company’s 10% Owner sold 37,405 for $15.06, making the entire transaction worth $563,248. This insider now owns 0 shares in total.

Prime Medicine Inc (PRME) Latest Financial update

If we go through the results of last quarter, which was made public on 9/29/2023, the company posted -$0.55 earnings per share (EPS) for the quarter, coming under the agreed prediction (set at -$0.46) by -$0.09. This company achieved a return on equity of -43.83. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.5 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 55.22% per share during the next fiscal year.

Prime Medicine Inc (NASDAQ: PRME) Trading Performance Indicators

Check out the current performance indicators for Prime Medicine Inc (PRME). In the past quarter, the stock posted a quick ratio of 4.69.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -1.88, a number that is poised to hit -0.45 in the next quarter and is forecasted to reach -1.77 in one year’s time.

Technical Analysis of Prime Medicine Inc (PRME)

Prime Medicine Inc (NASDAQ: PRME) saw its 5-day average volume 0.91 million, a positive change from its year-to-date volume of 0.34 million. As of the previous 9 days, the stock’s Stochastic %D was 21.92%. Additionally, its Average True Range was 0.73.

During the past 100 days, Prime Medicine Inc’s (PRME) raw stochastic average was set at 13.81%, which indicates a significant decrease from 34.24% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 114.11% in the past 14 days, which was higher than the 77.21% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $8.38, while its 200-day Moving Average is $12.80. Nevertheless, the first resistance level for the watch stands at $7.43 in the near term. At $7.91, the stock is likely to face the second major resistance level. The third major resistance level sits at $8.36. If the price goes on to break the first support level at $6.50, it is likely to go to the next support level at $6.05. The third support level lies at $5.57 if the price breaches the second support level.

Prime Medicine Inc (NASDAQ: PRME) Key Stats

There are currently 97,324K shares outstanding in the company with a market cap of 676.37 million. Presently, the company’s annual sales total 0 K according to its annual income of -121,820 K. Last quarter, the company’s sales amounted to 0 K and its income totaled -50,710 K.