Bank of America Corp DE Has $424,000 Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Bank of America Corp DE lowered its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 89.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,504 shares of the company's stock after selling 44,345 shares during the quarter. Bank of America Corp DE's holdings in Praxis Precision Medicines were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PRAX. Price T Rowe Associates Inc. MD lifted its stake in Praxis Precision Medicines by 7.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,208,522 shares of the company's stock valued at $93,008,000 after purchasing an additional 88,442 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Praxis Precision Medicines by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company's stock worth $81,858,000 after acquiring an additional 24,645 shares during the period. Geode Capital Management LLC lifted its holdings in Praxis Precision Medicines by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 406,711 shares of the company's stock valued at $31,308,000 after purchasing an additional 7,873 shares during the last quarter. CIBC Asset Management Inc boosted its position in Praxis Precision Medicines by 47.3% during the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock worth $28,226,000 after purchasing an additional 117,817 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Praxis Precision Medicines in the fourth quarter valued at $17,454,000. Institutional investors and hedge funds own 67.84% of the company's stock.

Analyst Upgrades and Downgrades

PRAX has been the topic of several research analyst reports. Oppenheimer set a $97.00 price target on shares of Praxis Precision Medicines and gave the company an "outperform" rating in a report on Monday, June 2nd. Truist Financial decreased their target price on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Chardan Capital assumed coverage on Praxis Precision Medicines in a report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price target for the company. Robert W. Baird reduced their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Praxis Precision Medicines currently has an average rating of "Moderate Buy" and a consensus price target of $109.90.

Praxis Precision Medicines Price Performance

PRAX traded up $0.34 on Friday, hitting $45.37. 77,688 shares of the stock were exchanged, compared to its average volume of 388,050. The firm has a market capitalization of $924.04 million, a price-to-earnings ratio of -4.41 and a beta of 2.60. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $91.83. The business has a 50-day moving average of $36.93 and a two-hundred day moving average of $55.28.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share 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 expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Praxis Precision Medicines Company 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.