VR Adviser LLC raised its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 989,985 shares of the company's stock after purchasing an additional 283,854 shares during the quarter. Praxis Precision Medicines accounts for approximately 5.2% of VR Adviser LLC's holdings, making the stock its 4th biggest position. VR Adviser LLC owned about 5.31% of Praxis Precision Medicines worth $76,189,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in PRAX. Arizona State Retirement System raised its holdings in shares of Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock worth $296,000 after acquiring an additional 156 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 acquiring an additional 258 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Praxis Precision Medicines by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company's stock worth $450,000 after acquiring an additional 448 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Praxis Precision Medicines by 5.4% during the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company's stock worth $822,000 after acquiring an additional 544 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $48,000. 67.84% of the stock is currently owned by institutional investors.
Praxis Precision Medicines Trading Down 2.0%
NASDAQ PRAX traded down $0.76 on Friday, reaching $37.55. 172,946 shares of the company were exchanged, compared to its average volume of 387,697. The business's fifty day moving average price is $35.61 and its 200 day moving average price is $58.54. The stock has a market capitalization of $764.86 million, a P/E ratio of -3.65 and a beta of 2.65. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $91.83.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($3.29) EPS for the quarter, missing analysts' consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. Equities research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently weighed in on PRAX shares. Wedbush increased their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a report on Monday, May 5th. Truist Financial reduced their target price on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $105.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, Praxis Precision Medicines presently has an average rating of "Moderate Buy" and a consensus target price of $116.50.
Check Out Our Latest Report on Praxis Precision Medicines
About Praxis Precision Medicines
(
Free Report)
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.
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