Jump Financial LLC Buys New Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Jump Financial LLC purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,188 shares of the company's stock, valued at approximately $861,000. Jump Financial LLC owned about 0.06% of Praxis Precision Medicines as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Praxis Precision Medicines by 126.8% during the 3rd quarter. Barclays PLC now owns 37,130 shares of the company's stock valued at $2,136,000 after purchasing an additional 20,759 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Praxis Precision Medicines by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 398,838 shares of the company's stock worth $22,954,000 after purchasing an additional 3,779 shares during the last quarter. Franklin Resources Inc. boosted its stake in Praxis Precision Medicines by 85.6% in the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock valued at $25,619,000 after purchasing an additional 205,335 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Praxis Precision Medicines by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company's stock worth $450,000 after buying an additional 448 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Praxis Precision Medicines by 5,437.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company's stock valued at $43,027,000 after acquiring an additional 548,986 shares during the period. Institutional investors and hedge funds own 67.84% of the company's stock.

Praxis Precision Medicines Price Performance

PRAX stock remained flat at $36.00 during midday trading on Friday. The company had a trading volume of 300,541 shares, compared to its average volume of 380,904. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83. The firm has a 50 day moving average of $40.27 and a two-hundred day moving average of $63.14. The company has a market cap of $725.87 million, a PE ratio of -3.50 and a beta of 2.66.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.76) by ($0.18). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The firm had revenue of $7.48 million during the quarter, compared to analyst estimates of $0.36 million. As a group, sell-side analysts expect that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 target price for the company. Wedbush downgraded shares of Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Finally, HC Wainwright lowered their price objective on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Praxis Precision Medicines has an average rating of "Moderate Buy" and an average price target of $123.33.

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.