Strs Ohio Invests $943,000 in Praxis Precision Medicines, Inc. $PRAX

Key Points

• Strs Ohio acquired a new stake of 3,200 shares in Praxis Precision Medicines (NASDAQ:PRAX) during Q4, valued at approximately $943,000, and institutional investors now own about 67.84% of the company.
• Wall Street sentiment is largely bullish: the stock's average rating is "Buy" with an average price target of $590.78, supported by multiple "Strong Buy" and "Buy" analyst reports.
• Praxis is a clinical‑stage biopharmaceutical focused on neuronal excitability; shares opened at $338.07 with a market cap of $9.42B, but the company reported quarterly EPS of -$3.50, missing estimates and highlighting ongoing negative earnings.

Strs Ohio acquired a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,200 shares of the company's stock, valued at approximately $943,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Praxis Precision Medicines by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company's stock valued at $444,000 after purchasing an additional 573 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Praxis Precision Medicines by 367.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company's stock worth $3,298,000 after purchasing an additional 68,466 shares during the last quarter. Creative Planning purchased a new stake in Praxis Precision Medicines in the 2nd quarter valued at about $273,000. JPMorgan Chase & Co. lifted its position in Praxis Precision Medicines by 21.4% in the second quarter. JPMorgan Chase & Co. now owns 13,938 shares of the company's stock valued at $586,000 after buying an additional 2,459 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Praxis Precision Medicines by 15.7% in the second quarter. Legal & General Group Plc now owns 16,670 shares of the company's stock valued at $701,000 after buying an additional 2,261 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PRAX shares. Truist Financial upgraded shares of Praxis Precision Medicines to a "strong-buy" rating in a research report on Wednesday, March 25th. Wolfe Research started coverage on shares of Praxis Precision Medicines in a report on Monday, February 23rd. They issued an "outperform" rating and a $500.00 price objective on the stock. Wells Fargo & Company set a $305.00 price objective on shares of Praxis Precision Medicines and gave the stock an "equal weight" rating in a research report on Friday, February 20th. Guggenheim reiterated a "buy" rating and issued a $800.00 target price (up from $760.00) on shares of Praxis Precision Medicines in a report on Tuesday, February 10th. Finally, BTIG Research reissued a "buy" rating and issued a $843.00 target price on shares of Praxis Precision Medicines in a research report on Monday, April 6th. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $590.78.

Praxis Precision Medicines Stock Performance

NASDAQ PRAX opened at $338.07 on Thursday. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of -25.12 and a beta of 2.76. The firm has a 50 day simple moving average of $317.97 and a 200-day simple moving average of $276.55. Praxis Precision Medicines, Inc. has a one year low of $35.18 and a one year high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($3.00) by ($0.50). Equities analysts predict that Praxis Precision Medicines, Inc. will post -14.88 EPS for the current fiscal year.

Praxis Precision Medicines Profile

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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