Prime Medicine (PRME) Gains 16.4% in 3 Months: Buy Now or Wait?

Zacks07-19

Prime Medicine, Inc.’s PRME shares have risen 16.4% in the past three months compared with the industry’s growth of 10.9%. The stock has also outperformed the sector and the S&P 500. The encouraging ...

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The stock has also outperformed the sector and the S&P 500.\nThe encouraging ...</p>\n\n<a href=\"https://finance.yahoo.com/news/prime-medicine-prme-gains-16-140000659.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Prime Medicine (PRME) Gains 16.4% in 3 Months: Buy Now or Wait?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPrime Medicine (PRME) Gains 16.4% in 3 Months: Buy Now or Wait?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-19 22:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/prime-medicine-prme-gains-16-140000659.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prime Medicine, Inc.’s PRME shares have risen 16.4% in the past three months compared with the industry’s growth of 10.9%. The stock has also outperformed the sector and the S&P 500.\nThe encouraging ...</p>\n\n<a href=\"https://finance.yahoo.com/news/prime-medicine-prme-gains-16-140000659.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0417517546.SGD","symbol_name":"Allianz US Equity Cl AT Acc SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/prime-medicine-prme-gains-16-140000659.html","article_id":"2452403605","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/2ZuhDuDie_37lq4aVERX2Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/4718122d03716403704541c667907c4e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2452403605","pubTimestamp":1721397600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The encouraging pipeline progress of this biotechnology company, focused on developing the next generation of gene editing therapies, is a positive. Innovation is imperative in the dynamic biotech sector and companies with a differentiated pipeline catch the eye of investors.Prime Medicine is deploying its proprietary gene editing technology, Prime Editing platform, to develop a new class of differentiated one-time curative genetic therapies. While the approach is interesting, the company’s ability to have sufficient cash leeway to conduct its R&D programs will hold the key to growth.PRME is currently advancing its diversified portfolio of investigational therapeutic programs with a focus on hematology and immunology, liver, lung, ocular and neuromuscular diseases.Prime Medicine is years away from generating product sales. While the IND clearance is a milestone for the company, cash runaway holds the key for PRME. As of Mar 31, 2024, cash, cash equivalents, investments and restricted c","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU2324357040.USD":"HSBC GIF GLOBAL EQUITY SUSTAINABLE HEALTHCARE \"AC\" (USD) ACC","BK4532":"文艺复兴科技持仓","IE0009355771.USD":"骏利亨德森环球生命科技A Acc","LU0079474960.USD":"联博美国增长基金A","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0320765992.SGD":"FTIF - Franklin Biotechnology Discovery A Acc SGD","BK4567":"ESG概念","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","BK4556":"基因编辑","IE00BJT1NW94.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (SGDHDG) ACC","BK4585":"ETF&股票定投概念","VRTX":"福泰制药","LU0109394709.USD":"富兰克林生物科技新领域基金A (acc)","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","LU2362540622.SGD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (SGDHDG) ACC","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU0058720904.USD":"联博国际健康护理基金A","PRME":"Prime Medicine, Inc.","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","BK4588":"碎股","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0823416689.USD":"BNP PARIBAS HEALTH CARE INNOVATORS \"C\" (USD) ACC","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","CRSP":"CRISPR Therapeutics AG","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BFTCPJ56.SGD":"Janus Henderson Global Life Sciences A Acc SGD","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","IE00B2B36J28.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I1\" (USD) INC","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","LU2362541513.USD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (USD) ACC","IE00B4R5TH58.HKD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (HKD) ACC","LU0889565916.HKD":"FRANKLIN BIOTECHNOLOGY DISCOVERY \"A\" (HKD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD"},"translate_title":"Prime Medicine(PRME)3个月内上涨16.4%：立即购买还是等待？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VRTX":1,"PRME":1,"CRSP":1},"content_text":"Prime Medicine, Inc.’s PRME shares have risen 16.4% in the past three months compared with the industry’s growth of 10.9%. The stock has also outperformed the sector and the S&P 500.\nThe encouraging pipeline progress of this biotechnology company, focused on developing the next generation of gene editing therapies, is a positive. Innovation is imperative in the dynamic biotech sector and companies with a differentiated pipeline catch the eye of investors.\nPRME Outperforms Industry, Sector & S&P 500\nImage Source: Zacks Investment Research\nPrime Medicine is deploying its proprietary gene editing technology, Prime Editing platform, to develop a new class of differentiated one-time curative genetic therapies. While the approach is interesting, the company’s ability to have sufficient cash leeway to conduct its R&D programs will hold the key to growth.\nIND Clearance of PM359\nPRME is currently advancing its diversified portfolio of investigational therapeutic programs with a focus on hematology and immunology, liver, lung, ocular and neuromuscular diseases.\nThe company got a significant boost in April 2024 when the FDA cleared its first investigational new drug (IND) application for PM359, meant for the treatment of chronic granulomatous disease (CGD). This is Prime Medicine’s first-ever product candidate from its Prime Editor platform to advance to the clinic.\nPM359 is aimed at correcting the predominant mutation in NCF1 in CGD patient CD34+ hematopoietic stem cells and restoring NADPH oxidase function. The IND enables the company to initiate its global phase I/II study in the United States. The study will assess the safety, biological activity and preliminary efficacy of PM359 in adult and pediatric study participants.\nAssuming that safety and biological activity are demonstrated in this cohort, the study is designed to progress to enroll participants with active infection or severe inflammation as well as adolescent and pediatric participants.  Initial clinical data is expected in 2025.\nPM359 has received the rare pediatric drug and orphan drug designations from the FDA.\nOther Programs in Pipeline\nThe company continues to advance preclinical studies for three liver programs. It expects to initiate IND-enabling activities for at least one in 2024, leading to an IND and/or clinical trial application in the second half of 2025 or the first half of 2026.\nIn the ocular space, PRME plans to nominate a development candidate for RHO-RP program and initiate IND-enabling activities in 2024.\nCash Runaway: A Cause of Concern\nPrime Medicine is years away from generating product sales. While the IND clearance is a milestone for the company, cash runaway holds the key for PRME. As of Mar 31, 2024, cash, cash equivalents, investments and restricted cash totaled $224.2 million. The company expects its existing cash, cash equivalents and investments to be sufficient to fund its operating expenses and capital expenditure requirements into the third quarter of 2025.\nPRME raised $161 million through public offering of shares in February 2024. Given the precarious cash position, the company needs to raise additional funds to finance its operations.\nValuation & Estimates\nFrom a valuation perspective, current price levels do look attractive. Going by the price/book ratio, PRME’s shares currently trade at 2.74X, much lower than 4.61 for the industry and the company’s mean of 4.36.\nImage Source: Zacks Investment Research\nThe Zacks Consensus Estimate for 2024 loss per share has remained unchanged at $1.64 over the past 60 days.\nImage Source: Zacks Investment Research\nConclusion\nSignificant progress has been made in the last decade in the field of genetic therapies. This sphere is witnessing pathbreaking advances in gene therapy, cell therapy, ribonucleic acid, RNA therapy, and, more recently, gene editing. The recent FDA approval of Vertex VRTX and CRISPR Therapeutics’ CRSP CRISPR/Cas9 genome-edited cell therapy, Casgevy, for the treatment of sickle cell disease has put the spotlight on the gene editing space. \nPrime Editing is the only gene editing technology that, by itself, can edit, correct, insert and delete deoxyribonucleic acid, or DNA, sequences in any target tissue.  This technology has transformative potential, and hence, the successful development of PM359 should be a great boost.\nHaving said that, a small company like PRME is not for chicken-hearted investors, as the successful development of these therapies is a complex affair. Hence, PRME is a risky bet.\nWhile the current valuation levels are attractive and may provide an upside, the uncertain cash trajectory is something that potential investors should look out for.  We would advise investors to currently wait and watch how the phase I/II study on PM359 progresses. They should also keep a track of how PRME manages its cash situation. \nThe company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nVertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report\nPrime Medicine, Inc. (PRME) : Free Stock Analysis Report\nCRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.27.0","shortVersion":"4.27.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2452403605"}