Moody Aldrich Partners LLC Sells 928 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Moody Aldrich Partners LLC cut its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 2.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,677 shares of the company’s stock after selling 928 shares during the period. Moody Aldrich Partners LLC’s holdings in Praxis Precision Medicines were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRAX. Amalgamated Bank bought a new position in shares of Praxis Precision Medicines during the 2nd quarter worth about $25,000. Quarry LP bought a new position in shares of Praxis Precision Medicines in the 2nd quarter valued at about $83,000. US Bancorp DE boosted its stake in shares of Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock valued at $132,000 after purchasing an additional 605 shares during the last quarter. Intech Investment Management LLC bought a new position in Praxis Precision Medicines during the 3rd quarter worth approximately $217,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Praxis Precision Medicines during the 3rd quarter worth approximately $231,000. 67.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRAX has been the topic of a number of research reports. Oppenheimer lifted their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $151.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Finally, Truist Financial upped their price objective on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.11.

Praxis Precision Medicines Trading Up 2.8 %

Shares of PRAX opened at $75.36 on Wednesday. The stock has a 50-day moving average price of $74.22 and a 200-day moving average price of $66.03. Praxis Precision Medicines, Inc. has a 12-month low of $33.01 and a 12-month high of $86.93.

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

Insider Buying and Selling

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

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.