Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Prime Medicine Inc shares valued at $20,000,000 were purchased by ARCH Venture Partners XII, LLC on Feb 15 ’24. At $6.25 per share, ARCH Venture Partners XII, LLC acquired 3,200,000 shares. The insider’s holdings grew to 3,200,000 shares worth approximately $16.86 million following the completion of this transaction.
Also, ARCH Venture Partners X, LLC purchased 3,200,000 shares, netting a total of over 20,000,000 in proceeds. Following the buying of shares at $6.25 each, the insider now holds 3,200,000 shares.
Before that, NELSEN ROBERT had added 3,200,000 shares to its account. In a trade valued at $20,000,000, the Director bought Prime Medicine Inc shares for $6.25 each. Upon closing the transaction, the insider’s holdings increased to 3,200,000 shares, worth approximately $16.86 million.
As published in their initiating research note from Chardan Capital Markets on April 22, 2024, Prime Medicine Inc [PRME] has been a Buy and the price target has been revised to $17. Analysts at TD Cowen started covering the stock with ‘”a Buy”‘ outlook in a report released in early April. As of April 03, 2024, Wedbush has initiated its “an Outperform” rating for PRME. Earlier on January 16, 2024, Stifel downgraded its rating. Their new recommendation was “a Hold” for PRME stock which previously was a “a Buy”.
Analyzing PRME Stock Performance
During the last five days, there has been a surge of approximately 12.13%. Over the course of the year, Prime Medicine Inc shares have dropped approximately -40.52%. Shares of the company reached a 52-week high of $9.77 on 02/27/24 and a 52-week low of $4.11 on 04/25/24. A 50-day SMA is recorded $6.70, while a 200-day SMA reached $8.71. Nevertheless, trading volume fell to 0.81 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for Prime Medicine Inc (PRME)
According to the 24-hour chart, there is a support level at 4.88, which, if violated, would cause prices to drop to 4.50. In the upper region, resistance lies at 5.62. The next price resistance is at 5.98. RSI (Relative Strength Index) is 45.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 33.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
