Alliancebernstein L.P. Boosts Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Alliancebernstein L.P. boosted its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 335.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,627 shares of the company's stock after purchasing an additional 60,587 shares during the quarter. Alliancebernstein L.P. owned about 0.42% of Praxis Precision Medicines worth $6,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PRAX. Arizona State Retirement System grew its position in Praxis Precision Medicines by 4.2% during the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock worth $296,000 after buying an additional 156 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Praxis Precision Medicines by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company's stock worth $450,000 after purchasing an additional 448 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Praxis Precision Medicines in the fourth quarter valued at approximately $48,000. New York State Common Retirement Fund lifted its position in Praxis Precision Medicines by 12.1% during the fourth quarter. New York State Common Retirement Fund now owns 7,847 shares of the company's stock valued at $604,000 after purchasing an additional 847 shares during the last quarter. Finally, Swiss National Bank grew its stake in Praxis Precision Medicines by 4.0% in the 4th quarter. Swiss National Bank now owns 26,100 shares of the company's stock worth $2,009,000 after buying an additional 1,000 shares in the last quarter. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Price Performance

Praxis Precision Medicines stock traded up $3.96 during trading hours on Friday, reaching $33.79. The company had a trading volume of 450,983 shares, compared to its average volume of 377,541. The firm has a market cap of $681.31 million, a price-to-earnings ratio of -3.28 and a beta of 2.66. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $91.83. The company has a 50-day moving average price of $45.31 and a 200 day moving average price of $64.10.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its earnings results on Friday, February 28th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.76) by ($0.18). The firm had revenue of $7.48 million during the quarter, compared to analysts' expectations of $0.36 million. 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 expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analysts Set New Price Targets

PRAX has been the subject of several research reports. Robert W. Baird cut their target price on shares of 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. HC Wainwright cut their price objective on Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price objective on the stock. Truist Financial dropped their target price on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Wedbush cut shares of Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.33.

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.