Moody Aldrich Partners LLC Buys New Position in Praxis Precision Medicines, Inc. $PRAX

Key Points

• Moody Aldrich Partners LLC purchased 41,731 shares of Praxis Precision Medicines (PRAX) in Q4 — about $12.3 million — making PRAX its largest holding (roughly 2.3% of the firm's portfolio) and representing 0.17% ownership at quarter-end.
• Praxis reported Q4 EPS of -$3.50, missing estimates by $0.50, and analysts on average expect the company to post about -15.08 EPS for the current fiscal year.
• Wall Street has a consensus Buy rating on PRAX with a consensus price target of $590.78, driven by several firms issuing high targets (e.g., HC Wainwright $1,245, Piper Sandler $1,200, Raymond James $815) despite a few underperform/sell opinions.

Moody Aldrich Partners LLC bought a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,731 shares of the company's stock, valued at approximately $12,300,000. Praxis Precision Medicines comprises about 2.3% of Moody Aldrich Partners LLC's holdings, making the stock its biggest position. Moody Aldrich Partners LLC owned 0.17% of Praxis Precision Medicines at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PRAX. GF Fund Management CO. LTD. boosted its position in shares of Praxis Precision Medicines by 8.2% in the fourth quarter. GF Fund Management CO. LTD. now owns 490 shares of the company's stock valued at $144,000 after acquiring an additional 37 shares during the period. GAMMA Investing LLC increased its position in Praxis Precision Medicines by 58.7% during the fourth quarter. GAMMA Investing LLC now owns 238 shares of the company's stock worth $70,000 after acquiring an additional 88 shares during the period. CWM LLC increased its position in Praxis Precision Medicines by 15.5% during the fourth quarter. CWM LLC now owns 874 shares of the company's stock worth $258,000 after acquiring an additional 117 shares during the period. NBC Securities Inc. acquired a new position in Praxis Precision Medicines during the 4th quarter valued at $38,000. Finally, Farther Finance Advisors LLC raised its stake in Praxis Precision Medicines by 60.0% during the 4th quarter. Farther Finance Advisors LLC now owns 368 shares of the company's stock valued at $108,000 after purchasing an additional 138 shares during the last quarter. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Price Performance

PRAX opened at $321.92 on Wednesday. The company has a market capitalization of $8.97 billion, a P/E ratio of -23.92 and a beta of 2.94. The firm's fifty day moving average price is $318.47 and its two-hundred day moving average price is $269.59. Praxis Precision Medicines, Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($3.00) by ($0.50). On average, equities research analysts expect that Praxis Precision Medicines, Inc. will post -15.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRAX has been the topic of several research analyst reports. Wolfe Research began coverage on shares of Praxis Precision Medicines in a research report on Monday, February 23rd. They issued an "outperform" rating and a $500.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $1,245.00 target price on shares of Praxis Precision Medicines in a research note on Tuesday, April 7th. Wedbush lifted their target price on Praxis Precision Medicines from $95.00 to $130.00 and gave the stock an "underperform" rating in a research report on Friday, February 20th. Piper Sandler restated an "overweight" rating and set a $1,200.00 price target (up from $450.00) on shares of Praxis Precision Medicines in a research note on Wednesday, January 28th. Finally, Raymond James Financial assumed coverage on Praxis Precision Medicines in a report on Friday, April 10th. They issued a "strong-buy" rating and a $815.00 price target for the company. Five research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $590.78.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company's pipeline includes several lead candidates at various stages of development.

Want to see what other hedge funds are holding PRAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.