Squarepoint Ops LLC Sells 6,876 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Squarepoint Ops LLC lessened its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,782 shares of the company's stock after selling 6,876 shares during the quarter. Squarepoint Ops LLC's holdings in Praxis Precision Medicines were worth $599,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PRAX. Janus Henderson Group PLC increased its position in Praxis Precision Medicines by 77.5% during the fourth quarter. Janus Henderson Group PLC now owns 929,523 shares of the company's stock worth $71,621,000 after buying an additional 405,957 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Praxis Precision Medicines during the fourth quarter worth approximately $17,454,000. Millennium Management LLC increased its position in Praxis Precision Medicines by 3,519.4% during the fourth quarter. Millennium Management LLC now owns 150,892 shares of the company's stock worth $11,613,000 after buying an additional 146,723 shares during the last quarter. Norges Bank acquired a new position in shares of Praxis Precision Medicines in the fourth quarter valued at approximately $9,151,000. Finally, CIBC Asset Management Inc grew its position in shares of Praxis Precision Medicines by 47.3% in the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock valued at $28,226,000 after purchasing an additional 117,817 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company's stock.

Praxis Precision Medicines Stock Performance

Shares of Praxis Precision Medicines stock traded up $0.89 on Thursday, reaching $42.26. 895,672 shares of the stock were exchanged, compared to its average volume of 388,554. The firm's 50 day moving average is $35.76 and its 200-day moving average is $56.47. Praxis Precision Medicines, Inc. has a one year low of $26.70 and a one year high of $91.83. The firm has a market cap of $860.79 million, a PE ratio of -4.10 and a beta of 2.60.

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%. On average, equities research analysts expect that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Analyst Ratings Changes

PRAX has been the topic of several research reports. Robert W. Baird decreased their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Oppenheimer initiated coverage on Praxis Precision Medicines in a research report on Monday. They issued an "outperform" rating and a $97.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They issued a "buy" rating and a $111.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a research report on Monday, May 5th. Finally, Chardan Capital initiated coverage on Praxis Precision Medicines in a research report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $109.90.

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.