Voloridge Investment Management LLC Acquires 40,875 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Voloridge Investment Management LLC boosted its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 54.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 116,062 shares of the company's stock after buying an additional 40,875 shares during the period. Voloridge Investment Management LLC owned approximately 0.62% of Praxis Precision Medicines worth $8,932,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PRAX. VR Adviser LLC grew its position in shares of 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 buying an additional 283,854 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Praxis Precision Medicines in the 4th quarter worth approximately $766,000. Polar Asset Management Partners Inc. acquired a new stake in Praxis Precision Medicines during the fourth quarter valued at approximately $7,590,000. ProShare Advisors LLC acquired a new stake in Praxis Precision Medicines during the fourth quarter valued at approximately $442,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $316,000. Hedge funds and other institutional investors own 67.84% of the company's stock.

Praxis Precision Medicines Stock Down 3.7%

Shares of Praxis Precision Medicines stock traded down $1.43 during trading on Friday, reaching $37.02. The company's stock had a trading volume of 96,526 shares, compared to its average volume of 385,707. The business's 50-day moving average price is $35.57 and its 200-day moving average price is $57.53. The firm has a market cap of $754.08 million, a PE ratio of -3.62 and a beta of 2.65. 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 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%. Equities analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PRAX. Chardan Capital started coverage on shares of Praxis Precision Medicines in a research note on Wednesday, May 7th. They issued a "buy" rating and a $80.00 price objective on the stock. Wedbush raised their price objective on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research report on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and issued a $105.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, May 1st. Truist Financial reduced their price objective on shares of 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, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a "buy" rating and a $111.00 price target on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $116.50.

About Praxis Precision Medicines

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.