California State Teachers Retirement System Sells 874 Shares of Praxis Precision Medicines, Inc. $PRAX

California State Teachers Retirement System reduced its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,603 shares of the company's stock after selling 874 shares during the period. California State Teachers Retirement System owned 0.10% of Praxis Precision Medicines worth $8,906,418 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Janus Henderson Group PLC boosted its position in Praxis Precision Medicines by 6.8% during the first quarter. Janus Henderson Group PLC now owns 3,458,863 shares of the company's stock valued at $1,113,514,000 after purchasing an additional 218,777 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Praxis Precision Medicines by 2.0% during the 1st quarter. Perceptive Advisors LLC now owns 2,035,986 shares of the company's stock worth $655,974,000 after buying an additional 40,000 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in shares of Praxis Precision Medicines by 63.4% during the 4th quarter. Baker BROS. Advisors LP now owns 1,126,488 shares of the company's stock worth $332,021,000 after purchasing an additional 437,000 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Praxis Precision Medicines by 20.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 716,184 shares of the company's stock valued at $211,088,000 after purchasing an additional 123,163 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Praxis Precision Medicines by 23.1% in the fourth quarter. Geode Capital Management LLC now owns 562,379 shares of the company's stock valued at $165,783,000 after acquiring an additional 105,347 shares during the period. Institutional investors own 67.84% of the company's stock.

Insider Buying and Selling

In other news, Director Jill Desimone sold 11,600 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $311.32, for a total value of $3,611,312.00. Following the completion of the sale, the director owned 2,337 shares in the company, valued at $727,554.84. This represents a 83.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PRAX shares. TD Cowen reaffirmed a "buy" rating on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Piper Sandler reissued an "overweight" rating on shares of Praxis Precision Medicines in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $374.00 price target (down from $420.00) on shares of Praxis Precision Medicines in a report on Tuesday, June 2nd. Wedbush reduced their target price on shares of Praxis Precision Medicines from $166.00 to $162.00 and set an "underperform" rating on the stock in a research report on Tuesday, June 2nd. Finally, HC Wainwright dropped their price objective on Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a "buy" rating for the company in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Praxis Precision Medicines has a consensus rating of "Moderate Buy" and a consensus target price of $585.95.

Praxis Precision Medicines Trading Down 4.5%

NASDAQ:PRAX traded down $14.87 on Tuesday, reaching $315.69. The stock had a trading volume of 97,373 shares, compared to its average volume of 454,628. Praxis Precision Medicines, Inc. has a 12-month low of $40.12 and a 12-month high of $392.70. The stock has a market cap of $8.81 billion, a P/E ratio of -24.42 and a beta of 2.76. The company has a 50-day moving average of $340.88 and a 200 day moving average of $323.47.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($2.87) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.67) by $0.80. On average, equities analysts predict that Praxis Precision Medicines, Inc. will post -13.92 EPS for the current year.

Praxis Precision Medicines Profile

Praxis Precision Medicines, Inc NASDAQ: PRAX is a biotechnology company focused on developing treatments for central nervous system disorders, including epilepsy, movement disorders and other neurological conditions. The company uses its Precision Genetic Medicine platform, which combines human genetics, functional genomics and neuroscience research to identify disease mechanisms and potential therapeutic targets.

Praxis' pipeline has included investigational medicines such as ulixacaltamide, a treatment candidate being developed for essential tremor, and elsunersen, an antisense oligonucleotide designed for certain severe genetic epilepsies.

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