From Yahoo Finance: 2025-05-27 14:24:00

Citi downgraded Prime Medicine (PRME) to Neutral, cutting its price target from $10 to $1.50 due to market uncertainty. Despite cost-cutting measures, Prime Medicine’s cash reserves are projected to support operations only into H1 2026, falling short of management’s guidance for clinical data in 2027. The company seeks business development deals for non-dilutive capital. Prime Medicine Inc. (NASDAQ:PRME) uses gene editing technology in the US to deliver genetic therapies for various diseases.

Read more: Citi Downgrades Prime Medicine (PRME) to Neutral, Cuts PT to $1.50 Due to Market Uncertainty