Pictet Asset Management Holding SA Makes New $71.09 Million Investment in Praxis Precision Medicines, Inc. $PRAX

Key Points

• Pictet Asset Management bought 240,588 shares of Praxis Precision Medicines in Q4, a new position valued at about $71.09 million, leaving it with roughly 0.96% ownership while institutional investors overall own about 67.84% of the company.
• Praxis shares were trading near $321.92 (one‑year range $34.89–$356.00) with a market cap of about $8.97 billion and a negative P/E, reflecting its status as a loss-making clinical‑stage biotech.
• Analysts hold a consensus "Buy" rating with an average price target of $590.78, and several firms have issued substantially higher targets (e.g., Piper Sandler $1,200, Raymond James $815).

Pictet Asset Management Holding SA bought a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 240,588 shares of the company's stock, valued at approximately $71,085,000. Pictet Asset Management Holding SA owned approximately 0.96% of Praxis Precision Medicines as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. acquired a new position in Praxis Precision Medicines in the 4th quarter worth about $38,000. GAMMA Investing LLC increased its holdings in Praxis Precision Medicines by 58.7% in the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company's stock worth $70,000 after purchasing an additional 88 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Praxis Precision Medicines by 60.0% in the 4th quarter. Farther Finance Advisors LLC now owns 368 shares of the company's stock worth $108,000 after purchasing an additional 138 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in Praxis Precision Medicines by 8.2% in the 4th quarter. GF Fund Management CO. LTD. now owns 490 shares of the company's stock worth $144,000 after purchasing an additional 37 shares in the last quarter. Finally, KBC Group NV acquired a new position in Praxis Precision Medicines in the 4th quarter worth about $199,000. Institutional investors and hedge funds own 67.84% of the company's stock.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock opened at $321.92 on Wednesday. Praxis Precision Medicines, Inc. has a one year low of $34.89 and a one year high of $356.00. The stock's 50-day moving average is $318.47 and its 200 day moving average is $269.59. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of -23.92 and a beta of 2.94.

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

Analyst Ratings Changes

PRAX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $437.00 target price on shares of Praxis Precision Medicines in a report on Wednesday, April 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $1,200.00 target price (up from $450.00) on shares of Praxis Precision Medicines in a report on Wednesday, January 28th. Robert W. Baird set a $433.00 price target on Praxis Precision Medicines and gave the company an "outperform" rating in a research report on Friday, February 20th. Needham & Company LLC reiterated a "buy" rating and issued a $510.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, April 14th. Finally, Raymond James Financial initiated coverage on Praxis Precision Medicines in a research report on Friday, April 10th. They issued a "strong-buy" rating and a $815.00 price target on the stock. Five analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $590.78.

About Praxis Precision Medicines

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.

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