TD Asset Management Inc Sells 15,760 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Key Points

• TD Asset Management Inc reduced its stake in Praxis Precision Medicines by 29.8%, resulting in ownership of 37,138 shares valued at approximately $1,406,000.
• Analysts have mixed ratings on Praxis Precision Medicines, with one sell rating and eight buy ratings, while the average target price is set at $94.11.
• Praxis Precision Medicines reported a loss of ($3.29) earnings per share in its latest quarterly results, missing the consensus estimate by ($0.09).

TD Asset Management Inc trimmed its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 29.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,138 shares of the company's stock after selling 15,760 shares during the period. TD Asset Management Inc owned approximately 0.18% of Praxis Precision Medicines worth $1,406,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PRAX. Price T Rowe Associates Inc. MD raised its holdings in Praxis Precision Medicines by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,208,522 shares of the company's stock worth $93,008,000 after acquiring an additional 88,442 shares in the last quarter. Vanguard Group Inc. raised its holdings in Praxis Precision Medicines by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company's stock worth $81,858,000 after acquiring an additional 24,645 shares in the last quarter. VR Adviser LLC raised its holdings in Praxis Precision Medicines by 40.2% during the fourth quarter. VR Adviser LLC now owns 989,985 shares of the company's stock worth $76,189,000 after acquiring an additional 283,854 shares in the last quarter. Janus Henderson Group PLC raised its holdings 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 acquiring an additional 405,957 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Praxis Precision Medicines by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 406,711 shares of the company's stock worth $31,308,000 after acquiring an additional 7,873 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wedbush upped their price objective 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. HC Wainwright upped their target price on Praxis Precision Medicines from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday. Chardan Capital reaffirmed a "buy" rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday, July 29th. 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 Thursday, June 12th. Finally, Oppenheimer upped their target price on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Praxis Precision Medicines currently has an average rating of "Moderate Buy" and a consensus target price of $95.22.

Praxis Precision Medicines Price Performance

PRAX stock traded down $3.30 during trading on Tuesday, reaching $47.79. The company had a trading volume of 865,810 shares, compared to its average volume of 553,735. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83. The business has a 50 day moving average of $47.32 and a 200 day moving average of $48.66.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($3.31) earnings per share for the quarter, beating analysts' consensus estimates of ($3.40) by $0.09. Praxis Precision Medicines had a negative net margin of 2,137.48% and a negative return on equity of 59.42%. On average, sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Praxis Precision Medicines Company 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.