J. Goldman & Co LP Takes Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

J. Goldman & Co LP purchased a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,634 shares of the company's stock, valued at approximately $895,000. J. Goldman & Co LP owned approximately 0.06% of Praxis Precision Medicines as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of PRAX. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Praxis Precision Medicines in the 4th quarter worth $48,000. Graham Capital Management L.P. purchased a new stake in Praxis Precision Medicines in the 4th quarter worth $209,000. KLP Kapitalforvaltning AS purchased a new stake in Praxis Precision Medicines in the 4th quarter worth $215,000. Envestnet Asset Management Inc. purchased a new stake in Praxis Precision Medicines in the 4th quarter worth $231,000. Finally, Freestone Grove Partners LP purchased a new stake in Praxis Precision Medicines in the 4th quarter worth $237,000. Hedge funds and other institutional investors own 67.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRAX shares. Truist Financial cut their price target on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Chardan Capital initiated coverage on Praxis Precision Medicines in a research report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a research report on Monday, May 5th. Robert W. Baird cut their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Finally, HC Wainwright restated a "buy" rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of "Moderate Buy" and an average price target of $116.50.

Praxis Precision Medicines Stock Down 0.5%

PRAX traded down $0.18 on Friday, hitting $37.02. The company had a trading volume of 267,491 shares, compared to its average volume of 388,221. The company has a market cap of $754.06 million, a PE ratio of -3.59 and a beta of 2.65. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $91.83. The business's fifty day simple moving average is $35.60 and its 200 day simple moving average is $59.67.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) EPS for the quarter, missing the consensus estimate of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. On average, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Praxis Precision Medicines 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.