Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 22.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,548 shares of the company’s stock after selling 14,940 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.30% of Praxis Precision Medicines worth $3,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRAX. Simplex Trading LLC acquired a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $31,000. SG Americas Securities LLC acquired a new position in shares of Praxis Precision Medicines during the first quarter valued at approximately $150,000. Victory Capital Management Inc. increased its stake in shares of Praxis Precision Medicines by 25.0% during the fourth quarter. Victory Capital Management Inc. now owns 15,705 shares of the company’s stock valued at $350,000 after acquiring an additional 3,137 shares during the period. Kingdon Capital Management L.L.C. increased its stake in shares of Praxis Precision Medicines by 1.0% during the first quarter. Kingdon Capital Management L.L.C. now owns 350,000 shares of the company’s stock valued at $21,357,000 after acquiring an additional 3,335 shares during the period. Finally, Chase Investment Counsel Corp acquired a new position in shares of Praxis Precision Medicines during the first quarter valued at approximately $229,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $270.00 target price on shares of Praxis Precision Medicines in a report on Monday, July 1st. Needham & Company LLC started coverage on shares of Praxis Precision Medicines in a report on Monday, June 24th. They set a “buy” rating and a $145.00 target price for the company. Robert W. Baird started coverage on shares of Praxis Precision Medicines in a research note on Wednesday, May 1st. They issued an “outperform” rating and a $117.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, May 14th. Finally, Guggenheim started coverage on shares of Praxis Precision Medicines in a research note on Tuesday, June 18th. They issued a “buy” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.38.

Praxis Precision Medicines Stock Up 2.4 %

PRAX stock traded up $1.37 during midday trading on Wednesday, reaching $58.25. The company had a trading volume of 77,961 shares, compared to its average volume of 281,328. Praxis Precision Medicines, Inc. has a 1 year low of $12.90 and a 1 year high of $67.21. The company has a 50 day moving average of $45.62 and a two-hundred day moving average of $47.58.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Monday, May 13th. The company reported ($2.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.83). Praxis Precision Medicines had a negative return on equity of 101.99% and a negative net margin of 5,711.85%. The company had revenue of $0.43 million during the quarter, compared to analysts’ expectations of $2.75 million. On average, equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.13 earnings per share for the current fiscal year.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.