A new trading day began on Monday, with Prime Medicine Inc (NASDAQ: PRME) stock price down -8.56% from the previous day of tradingbefore settling in for the closing price of $4.09. PRME’s price has ranged from $3.47 to $13.09 over the past 52 weeks.
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A company in the Healthcare sector has dropped its sales by -25.00% annually for the last half of the decade. Meanwhile, its annual earnings per share averaged 20.09%. With a float of $50.58 million, this company’s outstanding shares have now reached $97.38 million.
In an organization with 234 employees, it is important to assess its efficiency. In terms of profitability, gross margin is 0.0%, operating margin of -37819.8%, and the pretax margin is -36809.98%.
Prime Medicine Inc (PRME) Insider and Institutional Ownership
As we move forward, let’s examine how large-scale investors are investing in this stock of the Biotechnology Industry. The insider ownership of Prime Medicine Inc is 57.86%, while institutional ownership is 36.60%. The most recent insider transaction that took place on Feb 15 ’24, was worth 20,000,000. In this transaction Director of this company bought 3,200,000 shares at a rate of $6.25, taking the stock ownership to the 3,200,000 shares. Before that another transaction happened on Feb 15 ’24, when Company’s 10% Owner bought 3,200,000 for $6.25, making the entire transaction worth $20,000,000. This insider now owns 3,200,000 shares in total.
Prime Medicine Inc (PRME) Latest Financial update
In its latest quarterly report, released on 6/30/2024, the company reported earnings of -0.55 per share, which was $0.1 lower than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.45 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 20.09% per share during the next fiscal year.
Prime Medicine Inc (NASDAQ: PRME) Trading Performance Indicators
Here are Prime Medicine Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 8.23. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 760.87.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -2.13, a number that is poised to hit -0.43 in the next quarter and is forecasted to reach -1.56 in one year’s time.
Technical Analysis of Prime Medicine Inc (PRME)
Let’s dig in a bit further. During the last 5-days, its volume was 0.65 million. That was inferior than the volume of 0.75 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 55.51%. Additionally, its Average True Range was 0.33.
During the past 100 days, Prime Medicine Inc’s (PRME) raw stochastic average was set at 5.62%, which indicates a significant decrease from 25.23% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 75.26% in the past 14 days, which was lower than the 89.11% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $4.76, while its 200-day Moving Average is $6.46. However, in the short run, Prime Medicine Inc’s stock first resistance to watch stands at $4.00. Second resistance stands at $4.25. The third major resistance level sits at $4.39. If the price goes on to break the first support level at $3.60, it is likely to go to the next support level at $3.45. The third support level lies at $3.19 if the price breaches the second support level.
Prime Medicine Inc (NASDAQ: PRME) Key Stats
With a market capitalization of 448.91 million, the company has a total of 120,031K Shares Outstanding. Currently, annual sales are 0 K while annual income is -198,130 K. The company’s previous quarter sales were 590 K while its latest quarter income was -45,760 K.
