J. Goldman & Co LP Buys Shares of 11,634 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 disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,634 shares of the company's stock, valued at approximately $895,000. J. Goldman & Co LP owned about 0.06% of Praxis Precision Medicines at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Praxis Precision Medicines by 5,437.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company's stock worth $43,027,000 after acquiring an additional 548,986 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Praxis Precision Medicines by 77.5% in the 4th quarter. Janus Henderson Group PLC now owns 929,523 shares of the company's stock valued at $71,621,000 after purchasing an additional 405,957 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Praxis Precision Medicines during the fourth quarter valued at $17,454,000. Norges Bank acquired a new stake in Praxis Precision Medicines during the fourth quarter valued at $9,151,000. Finally, CIBC Asset Management Inc grew its position in Praxis Precision Medicines by 47.3% during the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock valued at $28,226,000 after buying an additional 117,817 shares during the period. Hedge funds and other institutional investors own 67.84% of the company's stock.

Praxis Precision Medicines Price Performance

PRAX traded up $0.10 on Thursday, reaching $37.20. 312,550 shares of the company's stock were exchanged, compared to its average volume of 389,943. The stock has a market cap of $757.73 million, a PE ratio of -3.61 and a beta of 2.65. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83. The stock's fifty day moving average price is $35.59 and its 200-day moving average price is $60.21.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRAX. Deutsche Bank Aktiengesellschaft began coverage on shares of Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price target on the stock. Chardan Capital began coverage on shares of Praxis Precision Medicines in a research report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 target price on the stock. Truist Financial dropped their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a research report on Monday, May 5th. Finally, Wedbush lifted their target price on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.50.

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.