Praxis Precision Medicines, Inc. $PRAX Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Praxis Precision Medicines by 36.6%, holding approximately $6.71 million worth of shares after selling over 102,000 shares in the first quarter.
• Praxis Precision Medicines reported a loss of $3.31 EPS, which was better than analysts' estimates, and has a negative net margin of 2,137.48% with expectations to post -10.22 EPS for the current fiscal year.
• Multiple analysts have issued buy ratings on Praxis Precision Medicines, with target prices ranging from $80.00 to $115.00, reflecting a consensus rating of "Moderate Buy."

Goldman Sachs Group Inc. lowered its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 36.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 177,264 shares of the company's stock after selling 102,131 shares during the period. Goldman Sachs Group Inc. owned approximately 0.87% of Praxis Precision Medicines worth $6,713,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Praxis Precision Medicines by 2.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company's stock worth $856,000 after purchasing an additional 258 shares during the period. California State Teachers Retirement System lifted its holdings in Praxis Precision Medicines by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 12,726 shares of the company's stock worth $979,000 after buying an additional 275 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Praxis Precision Medicines during the 4th quarter worth approximately $30,000. Swiss National Bank lifted its holdings in Praxis Precision Medicines by 3.8% during the 1st quarter. Swiss National Bank now owns 27,100 shares of the company's stock worth $1,026,000 after buying an additional 1,000 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Praxis Precision Medicines by 6.7% during the 1st quarter. Rhumbline Advisers now owns 24,294 shares of the company's stock worth $920,000 after buying an additional 1,525 shares in the last quarter. Hedge funds and other institutional investors own 67.84% of the company's stock.

Praxis Precision Medicines Stock Down 2.1%

Shares of NASDAQ PRAX traded down $0.93 during midday trading on Friday, hitting $44.30. The company had a trading volume of 50,022 shares, compared to its average volume of 445,637. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83. The business has a 50-day simple moving average of $48.45 and a two-hundred day simple moving average of $42.00. The firm has a market capitalization of $932.52 million, a price-to-earnings ratio of -3.60 and a beta of 2.61.

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

Analysts Set New Price Targets

A number of research firms have issued reports on PRAX. Needham & Company LLC reiterated a "buy" rating and set a $80.00 target price on shares of Praxis Precision Medicines in a report on Thursday, June 12th. Jefferies Financial Group reiterated a "buy" rating on shares of Praxis Precision Medicines in a report on Tuesday, September 2nd. Oppenheimer increased their target price on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Lifesci Capital upgraded shares of Praxis Precision Medicines to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, HC Wainwright reiterated a "buy" rating and set a $115.00 target price (up previously from $105.00) on shares of Praxis Precision Medicines in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Praxis Precision Medicines presently has an average rating of "Moderate Buy" and an average target price of $85.56.

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.