Ensign Peak Advisors Inc Acquires Shares of 27,650 Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Ensign Peak Advisors Inc acquired a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 27,650 shares of the company's stock, valued at approximately $2,128,000. Ensign Peak Advisors Inc owned about 0.15% of Praxis Precision Medicines at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Praxis Precision Medicines in the 4th quarter worth approximately $48,000. KLP Kapitalforvaltning AS bought a new position in Praxis Precision Medicines during the fourth quarter valued at approximately $215,000. Envestnet Asset Management Inc. purchased a new position in Praxis Precision Medicines during the 4th quarter valued at approximately $231,000. Freestone Grove Partners LP bought a new stake in Praxis Precision Medicines in the 4th quarter worth approximately $237,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $246,000. 67.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRAX shares. Robert W. Baird reduced their price target on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 target price on the stock. 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. Chardan Capital started coverage on Praxis Precision Medicines in a report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 target price for the company. Finally, Wedbush increased their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a report on Monday, May 5th. One equities 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, Praxis Precision Medicines has a consensus rating of "Moderate Buy" and an average price target of $116.50.

Praxis Precision Medicines Stock Performance

Shares of Praxis Precision Medicines stock traded down $0.14 during trading on Wednesday, hitting $39.56. 24,138 shares of the company's stock were exchanged, compared to its average volume of 387,110. The business has a 50-day simple moving average of $35.62 and a 200-day simple moving average of $59.24. The stock has a market capitalization of $805.80 million, a price-to-earnings ratio of -3.84 and a beta of 2.65. Praxis Precision Medicines, Inc. has a 52-week low of $26.70 and a 52-week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. On average, equities 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.