Wellington Management Group LLP Lowers Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Wellington Management Group LLP cut its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 70.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 63,934 shares of the company's stock after selling 155,973 shares during the period. Wellington Management Group LLP owned approximately 0.32% of Praxis Precision Medicines worth $4,920,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Praxis Precision Medicines by 47.3% in the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock worth $28,226,000 after buying an additional 117,817 shares during the last quarter. Barclays PLC raised its holdings in Praxis Precision Medicines by 126.8% in the third quarter. Barclays PLC now owns 37,130 shares of the company's stock worth $2,136,000 after buying an additional 20,759 shares during the last quarter. Vanguard Group Inc. raised its holdings in Praxis Precision Medicines by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company's stock worth $81,858,000 after buying an additional 24,645 shares during the last quarter. Deutsche Bank AG increased its holdings in Praxis Precision Medicines by 48.6% in the 4th quarter. Deutsche Bank AG now owns 15,324 shares of the company's stock worth $1,179,000 after buying an additional 5,009 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Praxis Precision Medicines by 12.1% in the 4th quarter. New York State Common Retirement Fund now owns 7,847 shares of the company's stock worth $604,000 after buying an additional 847 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX traded up $2.30 during mid-day trading on Friday, reaching $44.56. 443,608 shares of the company traded hands, compared to its average volume of 390,410. The company's 50 day moving average price is $36.02 and its 200-day moving average price is $56.08. The firm has a market cap of $907.64 million, a PE ratio of -4.33 and a beta of 2.60. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly 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 return on equity of 54.86% and a negative net margin of 9,409.22%. On average, research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a "buy" rating and a $111.00 price target for the company. HC Wainwright restated a "buy" rating and set a $105.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, May 1st. Wedbush boosted their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research note on Monday, May 5th. Finally, Robert W. Baird cut their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of "Moderate Buy" and an average target price 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.