Prime Medicine (NASDAQ:PRME) trading up 11.8% - here's what happened. Shares of Prime Medicine, Inc. (NASDAQ:PRME - Get Free Report) shot up 11.8% on Thursday. The stock traded as high as $3.36 and last traded at $3.3550. 690,843 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,881,769 shares. The stock had previously closed at $3.00. Analyst upgrades and downgrades. Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $8.00 target price on shares of Prime Medicine in a research report on Monday, August 10th. BMO Capital Markets started coverage on shares of Prime Medicine in a research report on Tuesday, August 18th. They set an "outperform" rating and a $9.00 price objective on the stock. The Goldman Sachs Group set a $6.00 price objective on shares of Prime Medicine in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Prime Medicine from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. Finally, Citigroup reissued a "market outperform" rating on shares of Prime Medicine in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Prime Medicine currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.47. Prime Medicine price performance. The firm's 50 day simple moving average is $3.30 and its two-hundred day simple moving average is $3.42. The firm has a market capitalization of $584.95 million, a P/E ratio of -3.04 and a beta of 2.34. Prime Medicine (NASDAQ:PRME - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.24) EPS for the quarter, hitting the consensus estimate of ($0.24). Prime Medicine had a negative return on equity of 188.27% and a negative net margin of 4,613.11%.The firm had revenue of $1.15 million for the quarter, compared to the consensus estimate of $4.40 million. As a group, equities research analysts forecast that Prime Medicine, Inc. will post -0.96 EPS for the current year. Hedge funds weigh in on Prime Medicine. Large investors have recently bought and sold shares of the stock. Alphabet Inc. purchased a new position in shares of Prime Medicine during the second quarter valued at approximately $61,116,000. BlackRock Inc. bought a new stake in Prime Medicine in the second quarter valued at $35,432,000. ADAR1 Capital Management LLC purchased a new position in Prime Medicine during the 2nd quarter valued at $7,371,000. MWG Caph Ltd bought a new position in Prime Medicine in the 4th quarter worth $6,219,000. Finally, Redmile Group LLC purchased a new stake in shares of Prime Medicine in the 1st quarter worth about $5,536,000. 70.37% of the stock is owned by hedge funds and other institutional investors. Prime Medicine company profile. Prime Medicine, Inc is a biotechnology company developing genetic medicines using its proprietary Prime Editing platform. The company's technology is designed to make precise changes to DNA, including the insertion, deletion, or replacement of genetic sequences, with the goal of addressing disease-causing mutations. Prime Medicine is focused on developing treatments for genetic diseases and other serious conditions. Its research programs use Prime Editing in approaches that may modify a patient's own cells, including ex vivo cell-editing applications in which cells are edited outside the body and then returned to the patient. Receive News & Ratings for Prime Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prime Medicine and related companies with MarketBeat.com's FREE daily email newsletter.

Beam Therapeutics (NASDAQ: BEAM) and Ionis Pharmaceuticals (NASDAQ: IONS): two different competitive setbacks hit biotech names in same week. 11 July 2026 06:36 AM PDT Summarize with AI You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to its research reports, in-depth technical and fundamental research. Learn more Key Highlights * Beam Faces Competitive Threat in AATD From Prime Medicine Arbitration Win: Arbitration awarding Prime Medicine the right to develop PM647 creates competitive uncertainty in Beam's key AATD program. * Ionis Loses ATTR-CM Competitive Position After Eplontersen Phase 3 Failure: The primary endpoint failure removes eplontersen as a ATTR-CM market contender, creating competitive void benefiting Alnylam and BridgeBio. * Both Companies Retain Buy-Rated Analyst Support Despite Material Setbacks: Analyst communities at both companies maintained positive ratings, highlighting ongoing pipeline value beyond the specific setback programs. Beam Therapeutics (NASDAQ: BEAM) and Ionis Pharmaceuticals (NASDAQ: IONS) both faced material competitive and clinical setbacks in the same week, illustrating the idiosyncratic and simultaneous risks that can affect biotech investors holding diversified positions across the gene therapy and antisense oligonucleotide technology platforms. Beam Therapeutics tumbled nearly 9% following the July 8 arbitration ruling that awarded rival Prime Medicine the right to develop PM647 for alpha-1 antitrypsin deficiency - injecting competitive uncertainty into the BEAM-302 AATD program just as the stock had recently touched a 52-week high near $38. BofA maintained its Buy rating with a $47 target, characterizing the ruling's impact as narrow and keeping analytical focus on BEAM-302 pivotal execution and the anticipated BEAM-101 BLA filing by year-end 2026. The arbitration ruling is binding, removing the possibility of a legal reversal, but BofA's characterization of the impact as narrow reflects confidence that Beam's base editing technology advantages can sustain competitive differentiation even with Prime Medicine entering the AATD field. Ionis Pharmaceuticals suffered a more severe setback: the CARDIO-TTRansform Phase 3 trial of eplontersen in ATTR cardiomyopathy patients failed to meet the primary endpoint of reducing cardiovascular mortality and recurrent cardiovascular events versus placebo. William Blair analysts described the failure as "surprising" given prior evidence supporting the combination approach, and the miss was followed by broad price target cuts: Morgan Stanley lowered to $110, Jefferies and Barclays each lowered to $90, and Citigroup (NYSE: C) lowered to $100 - though all maintained Buy or Overweight ratings reflecting confidence in the broader Ionis pipeline. The competitive beneficiaries of the Ionis failure are significant. Alnylam Pharmaceuticals (NASDAQ: ALNY), whose Amvuttra is approved for ATTR-CM, and BridgeBio Pharma (NASDAQ: BBIO), whose Attruby is an approved competing therapy, both stand to capture the market share Ionis had been expected to contest. AstraZeneca (NASDAQ: AZN) also fell on the shared setback, reflecting its involvement in the eplontersen development program. The simultaneous occurrence of competitive and clinical setbacks at two prominent biotech companies in the same week underscores the idiosyncratic and non-correlated nature of biotech investment risk - a reminder that portfolio-level biotech exposure requires diversification across programs and companies to manage the event-driven volatility that defines the sector. FAQs. Q: What are the key differences between Beam's and Ionis's setbacks? A: Beam Therapeutics' (NASDA Q: Which biotech companies benefit from Ionis's eplontersen Phase 3 failure? A: Alnylam Pharmaceuticals (NASDA Q: Why did analysts maintain Buy ratings at both companies despite the setbacks? A: Analysts maintained Buy ratings at both Beam Therapeutics (NASDA Download Free Report - Explore 3 Stock Ideas & Industry Insights Unlock 3 stock ideas and key industry insights in its free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice. All investments involve risk - consider independent advice before making any investment decisions. Disclaimer: