Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by PFM Health Sciences LP

PFM Health Sciences LP cut its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 59.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 183,092 shares of the company’s stock after selling 270,054 shares during the period. PFM Health Sciences LP owned approximately 0.98% of Praxis Precision Medicines worth $10,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its position in shares of Praxis Precision Medicines by 10.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company’s stock valued at $43,498,000 after purchasing an additional 97,561 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Praxis Precision Medicines by 100.6% in the 1st quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock valued at $45,403,000 after acquiring an additional 373,131 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Praxis Precision Medicines in the 1st quarter valued at approximately $32,707,000. CIBC Asset Management Inc increased its holdings in shares of Praxis Precision Medicines by 29.2% in the 3rd quarter. CIBC Asset Management Inc now owns 248,939 shares of the company’s stock valued at $14,324,000 after acquiring an additional 56,272 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Praxis Precision Medicines by 105.2% in the 2nd quarter. Marshall Wace LLP now owns 248,381 shares of the company’s stock valued at $10,273,000 after acquiring an additional 127,357 shares during the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.

Praxis Precision Medicines Stock Up 0.9 %

PRAX opened at $80.17 on Friday. The firm has a market capitalization of $1.49 billion, a P/E ratio of -7.78 and a beta of 2.67. The stock’s 50 day moving average price is $70.29 and its two-hundred day moving average price is $56.68. Praxis Precision Medicines, Inc. has a 12-month low of $14.77 and a 12-month high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The firm had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.53 million. During the same period in the previous year, the business posted ($2.70) EPS. As a group, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.

Insider Activity at Praxis Precision Medicines

In other Praxis Precision Medicines news, insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the completion of the transaction, the insider now owns 5,613 shares in the company, valued at approximately $459,031.14. The trade was a 48.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Alex Nemiroff sold 8,239 shares of Praxis Precision Medicines stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the transaction, the general counsel now owns 10,301 shares of the company’s stock, valued at approximately $826,140.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRAX. Guggenheim upped their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Wedbush raised their price objective on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Oppenheimer raised their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.33.

About Praxis Precision Medicines

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.