Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 77.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,142 shares of the company's stock after selling 7,383 shares during the period. BNP Paribas Financial Markets' holdings in Praxis Precision Medicines were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. acquired a new stake in Praxis Precision Medicines in the 4th quarter valued at about $248,000. Alyeska Investment Group L.P. purchased a new stake in shares of Praxis Precision Medicines in the fourth quarter valued at approximately $17,454,000. Acuta Capital Partners LLC grew its position in shares of Praxis Precision Medicines by 17.4% in the fourth quarter. Acuta Capital Partners LLC now owns 67,500 shares of the company's stock valued at $5,195,000 after purchasing an additional 10,000 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Praxis Precision Medicines in the fourth quarter valued at approximately $237,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in Praxis Precision Medicines by 51.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 43,100 shares of the company's stock worth $3,317,000 after buying an additional 14,649 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wedbush lifted their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an "underperform" rating in a report on Monday, May 5th. Robert W. Baird reduced their target price on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Truist Financial dropped their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Oppenheimer began coverage on shares of Praxis Precision Medicines in a report on Monday. They set an "outperform" rating and a $97.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $109.90.

Praxis Precision Medicines Stock Up 0.4%

NASDAQ PRAX traded up $0.17 during trading on Wednesday, hitting $41.37. The stock had a trading volume of 482,681 shares, compared to its average volume of 386,525. The company has a market capitalization of $842.67 million, a PE ratio of -4.02 and a beta of 2.60. The firm has a 50 day moving average price of $35.76 and a 200 day moving average price of $56.47. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83.

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

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.