14 Best Biotech Penny Stocks to Buy Right Now

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12. Prime Medicine Inc. (NASDAQ:PRME)

Stock Price: $3.98

Number of Hedge Fund Holders: 15

Prime Medicine Inc. (NASDAQ:PRME) is one of the best biotech penny stocks to buy right now. On July 7, JonesTrading analyst Soumit Roy maintained a Buy rating on Prime Medicine Inc. (NASDAQ:PRME) with a $5.00 price target.

The analyst based the optimistic rating on Prime Medicine Inc.’s (NASDAQ:PRME) stock performance, stating that the considerable increase in its stock price since mid-June and the recent management changes have garnered investor attention.

Roy added that a significant factor supporting this momentum is the acquisition of Verve by Lilly, as it highlights the interest of the market in gene editing technologies, especially for larger market diseases.

Prime Medicine Inc.’s (NASDAQ:PRME) innovative prime editing technology lends it a promising position as a candidate for acquisition, according to the analyst, especially since it avoids issues experienced with base editing. The company’s attractive valuation further supports the analyst’s claim.

Headquartered in Cambridge, MA, Prime Medicine Inc. (NASDAQ:PRME) is a biotechnology company that develops one-time curative genetic therapies.

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