Woodline Partners LP bought a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,948 shares of the company's stock, valued at approximately $766,000. Woodline Partners LP owned about 0.05% of Praxis Precision Medicines as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $48,000. Graham Capital Management L.P. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $209,000. KLP Kapitalforvaltning AS purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $215,000. Envestnet Asset Management Inc. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $231,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $237,000. 67.84% of the stock is owned by hedge funds and other institutional investors.
Praxis Precision Medicines Stock Performance
NASDAQ:PRAX traded up $0.13 during trading hours on Friday, reaching $38.58. The stock had a trading volume of 342,490 shares, compared to its average volume of 386,336. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83. The company has a 50 day moving average price of $35.63 and a two-hundred day moving average price of $57.05. The stock has a market capitalization of $785.84 million, a PE ratio of -3.75 and a beta of 2.65.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings data 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 return on equity of 54.86% and a negative net margin of 9,409.22%. Equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued 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 initiated coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They set a "buy" rating and a $111.00 target price for the company. Robert W. Baird reduced 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 report on Monday, March 3rd. Chardan Capital initiated coverage on shares of Praxis Precision Medicines in a report on Wednesday, May 7th. They set a "buy" rating and a $80.00 target price for the company. Finally, Wedbush upped their target price on shares of 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $116.50.
Read Our Latest Analysis on Praxis Precision Medicines
Praxis Precision Medicines Profile
(
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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