Algert Global LLC Invests $814,000 in Praxis Precision Medicines, Inc. $PRAX

Key Points

• Algert Global LLC invested approximately $814,000 in Praxis Precision Medicines, purchasing 21,490 shares during the first quarter, bringing its total ownership to 0.11% of the company.
• Analysts have generally given Praxis Precision Medicines a "Moderate Buy" rating, with price targets ranging from $28.00 to $115.00.
• The company reported an earnings per share (EPS) of ($3.31) for the last quarter, slightly beating expectations, while analysts predict a current year EPS of -$10.22.

Algert Global LLC bought a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,490 shares of the company's stock, valued at approximately $814,000. Algert Global LLC owned 0.11% of Praxis Precision Medicines as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Praxis Precision Medicines by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 12,726 shares of the company's stock worth $979,000 after purchasing an additional 275 shares during the period. GAMMA Investing LLC raised its position in shares of Praxis Precision Medicines by 6,075.4% during the first quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock worth $152,000 after purchasing an additional 3,949 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at $248,000. Rhumbline Advisers grew its holdings in shares of Praxis Precision Medicines by 6.7% during the first quarter. Rhumbline Advisers now owns 24,294 shares of the company's stock valued at $920,000 after buying an additional 1,525 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Praxis Precision Medicines by 48.6% during the fourth quarter. Deutsche Bank AG now owns 15,324 shares of the company's stock valued at $1,179,000 after buying an additional 5,009 shares during the period. 67.84% of the stock is owned by institutional investors and hedge funds.

Praxis Precision Medicines Price Performance

Shares of NASDAQ PRAX opened at $48.78 on Friday. The business's 50-day moving average price is $48.82 and its two-hundred day moving average price is $45.88. Praxis Precision Medicines, Inc. has a one year low of $26.70 and a one year high of $91.83. The company has a market capitalization of $1.03 billion, a P/E ratio of -3.97 and a beta of 2.62.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($3.31) EPS for the quarter, beating analysts' consensus estimates of ($3.40) by $0.09. Praxis Precision Medicines had a negative return on equity of 60.07% and a negative net margin of 2,137.48%. On average, equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Wall Street Analyst Weigh In

PRAX has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, June 12th. Chardan Capital reissued a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, July 29th. Oppenheimer upped their price target on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wedbush upped their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research report on Monday, May 5th. Finally, HC Wainwright reissued a "buy" rating and set a $115.00 price target (up from $105.00) on shares of Praxis Precision Medicines in a research report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.88.

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.

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