Ensign Peak Advisors Inc purchased a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,650 shares of the company's stock, valued at approximately $2,128,000. Ensign Peak Advisors Inc owned approximately 0.15% of Praxis Precision Medicines as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in PRAX. Arizona State Retirement System grew its stake in shares of Praxis Precision Medicines by 4.2% during the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock valued at $296,000 after purchasing an additional 156 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Praxis Precision Medicines by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company's stock valued at $450,000 after purchasing an additional 448 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Praxis Precision Medicines by 5.4% during the fourth quarter. MetLife Investment Management LLC now owns 10,675 shares of the company's stock valued at $822,000 after purchasing an additional 544 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $48,000. Finally, New York State Common Retirement Fund grew its stake in shares of 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. Institutional investors and hedge funds own 67.84% of the company's stock.
Praxis Precision Medicines Trading Up 0.9%
Shares of PRAX traded up $0.33 during midday trading on Monday, reaching $37.35. The stock had a trading volume of 329,152 shares, compared to its average volume of 387,985. The firm has a 50 day simple moving average of $35.60 and a 200-day simple moving average of $59.60. Praxis Precision Medicines, Inc. has a one year low of $26.70 and a one year high of $91.83. The firm has a market cap of $760.78 million, a PE ratio of -3.63 and a beta of 2.65.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($3.29) earnings per share 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%. As a group, research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently weighed in on PRAX. Chardan Capital assumed coverage on shares of Praxis Precision Medicines in a report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, May 1st. Finally, Wedbush raised their price objective on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.50.
Get Our Latest Research Report on PRAX
Praxis Precision Medicines Company Profile
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Free Report)
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.
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