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PFM Health Sciences LP Has $14.63 Million Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Praxis Precision Medicines logo with Medical background

PFM Health Sciences LP cut its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 92.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,548 shares of the company's stock after selling 8,263,449 shares during the period. PFM Health Sciences LP owned 7.47% of Praxis Precision Medicines worth $14,628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRAX. Adage Capital Partners GP L.L.C. raised its stake in shares of Praxis Precision Medicines by 10.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 8,780,000 shares of the company's stock worth $15,014,000 after acquiring an additional 849,362 shares during the last quarter. Silverarc Capital Management LLC raised its stake in shares of Praxis Precision Medicines by 18.5% in the third quarter. Silverarc Capital Management LLC now owns 4,117,920 shares of the company's stock worth $7,042,000 after acquiring an additional 641,758 shares during the last quarter. Acuta Capital Partners LLC raised its stake in shares of Praxis Precision Medicines by 5.5% in the third quarter. Acuta Capital Partners LLC now owns 4,485,000 shares of the company's stock worth $7,669,000 after acquiring an additional 235,000 shares during the last quarter. Citigroup Inc. raised its stake in shares of Praxis Precision Medicines by 44,585.5% during the third quarter. Citigroup Inc. now owns 83,115 shares of the company's stock worth $142,000 after buying an additional 82,929 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Praxis Precision Medicines by 409.5% during the third quarter. Bank of New York Mellon Corp now owns 75,077 shares of the company's stock worth $128,000 after buying an additional 60,342 shares during the last quarter. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $105.00 price target on shares of Praxis Precision Medicines in a research note on Tuesday, May 14th. Jefferies Financial Group boosted their price target on shares of Praxis Precision Medicines from $75.00 to $128.00 and gave the stock a "buy" rating in a research note on Tuesday, March 26th. Truist Financial reissued a "buy" rating and set a $150.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, May 16th. Finally, Robert W. Baird assumed coverage on shares of Praxis Precision Medicines in a research note on Wednesday, May 1st. They set an "outperform" rating and a $117.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.80.


Get Our Latest Stock Report on Praxis Precision Medicines

Praxis Precision Medicines Stock Down 2.5 %

NASDAQ PRAX traded down $1.04 during trading on Thursday, reaching $40.05. 269,262 shares of the stock traded hands, compared to its average volume of 235,987. The firm has a market cap of $685.18 million, a price-to-earnings ratio of -2.53 and a beta of 2.78. The stock's 50-day moving average price is $48.16 and its 200 day moving average price is $41.60. Praxis Precision Medicines, Inc. has a fifty-two week low of $12.60 and a fifty-two week high of $67.21.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($2.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.01) by ($0.83). The firm had revenue of $0.43 million for the quarter, compared to analyst estimates of $2.75 million. Praxis Precision Medicines had a negative net margin of 5,711.85% and a negative return on equity of 101.99%. Analysts anticipate that Praxis Precision Medicines, Inc. will post -10.13 EPS for the current fiscal year.

Praxis Precision Medicines Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Praxis Precision Medicines (NASDAQ:PRAX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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