Prime Medicine Inc (NASDAQ:PRME) shares, rose in value on Thursday, December 12, with the stock price down by -4.75% to the previous day’s close as strong demand from buyers drove the stock to $3.01.
Actively observing the price movement in the last trading, the stock closed the session at $3.16, falling within a range of $2.935 and $3.13. The value of beta (5-year monthly) was 2.093. Referring to stock’s 52-week performance, its high was $9.86, and the low was $2.85. On the whole, PRME has fluctuated by -30.32% over the past month.
With the market capitalization of Prime Medicine Inc currently standing at about $394.80 million, investors are eagerly awaiting this quarter’s results, scheduled for in January.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 5.23M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that PRME’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of PRME currently trading nearly -6.42% and -18.00% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.06, while the 7-day volatility ratio is showing 8.21% which for the 30-day chart, stands at 8.32%. Furthermore, Prime Medicine Inc (PRME)’s beta value is 1.88, and its average true range (ATR) is 0.27.
A comparison of Prime Medicine Inc (PRME) with its peers suggests the former has fared considerably weaker in the market. PRME showed an intraday change of -4.75% in last session, and over the past year, it shrunk by -60.24%%.
Data on historical trading for Prime Medicine Inc (NASDAQ:PRME) indicates that the trading volumes over the past 10 days have averaged 1.12 and over the past 3 months, they’ve averaged 1.67 million. According to company’s latest data on outstanding shares, there are 131.16 million shares outstanding.
Nearly 61.20% of Prime Medicine Inc’s shares belong to company insiders and institutional investors own 36.06% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.76 million shares as on 2024-11-29, resulting in a short ratio of 13.89. According to the data, the short interest in Prime Medicine Inc (PRME) stood at 2309.00 of shares outstanding as of 2024-11-29; the number of short shares registered in 2024-10-31 reached 15.79 million. The stock has fallen by -66.03% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PRME stock heading into the next quarter.
