Prime Medicine Inc (NASDAQ:PRME) shares, rose in value on Wednesday, January 22, with the stock price up by 9.28% to the previous day’s close as strong demand from buyers drove the stock to $3.18.
Actively observing the price movement in the last trading, the stock closed the session at $2.91, falling within a range of $2.8801 and $3.24. The value of beta (5-year monthly) was 2.093. Referring to stock’s 52-week performance, its high was $9.77, and the low was $2.56. On the whole, PRME has fluctuated by 20.45% over the past month.
With the market capitalization of Prime Medicine Inc currently standing at about $417.09 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 5.81M.
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 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% 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 7.49% and 0.26% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.04, while the 7-day volatility ratio is showing 7.18% which for the 30-day chart, stands at 8.11%. Furthermore, Prime Medicine Inc (PRME)’s beta value is 1.87, and its average true range (ATR) is 0.24.
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 9.28% in last session, and over the past year, it shrunk by -51.08%%.
Data on historical trading for Prime Medicine Inc (NASDAQ:PRME) indicates that the trading volumes over the past 10 days have averaged 0.79 and over the past 3 months, they’ve averaged 1.09 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 36.17% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.94 million shares as on 2024-12-31, resulting in a short ratio of 13.65. According to the data, the short interest in Prime Medicine Inc (PRME) stood at 2481.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 15.76 million. The stock has risen by 8.90% 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.
