# Prime Medicine, Inc. (PRME)

> Source: Nexqual · https://nexqual.com/PRME · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Prime Medicine, Inc. (PRME), nexqual.com/PRME" · informational, not investment advice.

**Price:** USD 3.67 (-1.61% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 3.73 · day 3.38–3.7 · 52w 2.67–5.55 · market cap $666M · NGM

## Key facts
- Total return with dividends: 1Y -30.0% vs S&P 500 +14.0%; 5Y -76.7% vs S&P 500 +76.9%.
- Next earnings: 2026-11-06, EPS estimate USD -0.23, revenue estimate $1.1M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0K | $0K | $0K | $3.0M | $4.6M | — |
| Operating income | -$84.5M | -$117M | -$205M | -$202M | -$208M | -$197M |
| Net income | -$165M | -$122M | -$198M | -$196M | -$201M | -$188M |
| EPS (diluted) | -$14.19 | -$4.19 | -$2.18 | -$1.65 | -$1.35 | — |
| Free cash flow | -$38.2M | -$148M | -$174M | -$130M | -$167M | -$157M |
| Operating margin | — | — | — | -6787.4% | -4498.1% | — |
| Net margin | — | — | — | -6566.6% | -4342.4% | — |
| Revenue growth | -100.0% | — | — | — | +55.3% | — |
| Cash + short-term investments | $254M | $294M | $122M | $190M | $178M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 16.7x · FCF yield -23.56% · Earnings yield -28.23%

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-25 | Chardan Capital | Maintained | Buy | $7 |
| 2026-08-25 | Chardan Capital | Maintained | Buy | $7 |
| 2026-08-19 | BMO Capital | Initiated | Outperform | $9 |
| 2026-08-10 | HC Wainwright & Co. | Reiterated | Buy | $8 |
| 2026-06-29 | HC Wainwright & Co. | Upgrade | Neutral → Buy | $8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2022-10-17) |
|---|---|---|
| Total return | -30.0% | -76.7% |
| S&P 500 (SPY) | +14.0% | +76.9% |
| Per year | -30.2% | -30.4% |
| Volatility (annualized) | 86.3% | 88.8% |
| Max drawdown | -49.3% (Oct 2025→May 2026) | -94.4% (Nov 2022→May 2025) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 303.53 -1.39% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 89.27 -1.79% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.09 -0.35% · PRAX (Praxis Precision Medicines, Inc) USD 252.96 -2.30% · IONS (Ionis Pharmaceuticals, Inc.) USD 42.93 -2.23% · AXSM (Axsome Therapeutics, Inc.) USD 145.04 -7.07%

## More
Full page: https://nexqual.com/PRME · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in PRME's own 10-K filed 2026-03-03 (https://www.sec.gov/Archives/edgar/data/1894562/000162828026013569/prme-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Beam Therapeutics Inc. (BEAM) | "•We may enter into collaborations with collaborators and strategic partners such as Beam Therapeutics Inc., or Beam, or other third parties for the research, development, delivery, manufacturing and commercialization of …" |
| Partner | Broad Institute | "In September 2019, we entered into a license agreement with Broad Institute, or the Broad License Agreement, and in May 2020, February 2021, December 2022, September 2024, and September 2025 we entered into amendments to…" |
| Partner | Myeloid Therapeutics | "In 2023, we terminated the Myeloid Collaboration Agreement." |
| Partner | KMG Strategic Consulting | "In May 2025, pursuant to the Gottesdiener Separation Agreement and Gottesdiener Employment Agreement, we entered into a consulting agreement with KMG Strategic Consulting, LLC, or the KMG Consulting Agreement, a limited …" |
| Competitor | Moderna (MRNA) | "Other companies have announced intentions to enter the gene editing field, such as Moderna, Inc. and Pfizer Inc. Most recently, new epigenetic editing companies have emerged, such as Moonwalk Biosciences, Inc., nChroma B…" |
| Competitor | Pfizer (PFE) | "Other companies have announced intentions to enter the gene editing field, such as Moderna, Inc. and Pfizer Inc. Most recently, new epigenetic editing companies have emerged, such as Moonwalk Biosciences, Inc., nChroma B…" |

## Company outlook (8-K filed 2026-08-06)

- "Based on its current operating plans, Prime Medicine expects that its cash, cash equivalents and investments as of June 30, 2026 will be sufficient to fund its operating expenses and capital expenditure requirements into 2027."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.23 | $-0.23 | +2.8% | $1.1M | 13 |
| Next quarter (ends 2026-12-31) | $-0.22 | $-0.23 | -4.6% | $6.5M | 13 |
| Current fiscal year (ends 2026-12-31) | $-0.94 | $-0.99 | -4.1% | $8.8M | 14 |
| Next fiscal year (ends 2027-12-31) | $-0.89 | $-0.84 | +5.5% | $10.6M | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-06): ±27.5%; last 8 reports averaged ±7.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 104.9% | ±27.5% |
| 2026-12-18 | 56 | 110.7% | ±37.1% |
| 2027-01-15 | 84 | 104.9% | ±39.8% |
| 2027-04-16 | 175 | 108.5% | ±57.7% |