Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Purchased by Acuta Capital Partners LLC

Acuta Capital Partners LLC lifted its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,500 shares of the company's stock after purchasing an additional 10,000 shares during the period. Praxis Precision Medicines comprises about 5.2% of Acuta Capital Partners LLC's investment portfolio, making the stock its 7th biggest holding. Acuta Capital Partners LLC owned about 0.36% of Praxis Precision Medicines worth $5,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in 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 worth $43,027,000 after purchasing an additional 548,986 shares during the period. Franklin Resources Inc. grew its stake in shares of Praxis Precision Medicines by 85.6% in the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock worth $25,619,000 after purchasing an additional 205,335 shares in the last quarter. Norges Bank bought a new stake in shares of Praxis Precision Medicines during the 4th quarter worth about $9,151,000. CIBC Asset Management Inc lifted its position in Praxis Precision Medicines by 47.3% in the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock worth $28,226,000 after purchasing an additional 117,817 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Praxis Precision Medicines by 7.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,208,522 shares of the company's stock valued at $93,008,000 after purchasing an additional 88,442 shares during the period. 67.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRAX. HC Wainwright reaffirmed a "buy" rating and issued a $105.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price objective for the company. Wedbush cut Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a report on Friday, February 28th. Finally, Robert W. Baird decreased their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $123.33.

Praxis Precision Medicines Stock Up 1.1 %

PRAX stock opened at $38.06 on Friday. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83. The company has a market cap of $767.40 million, a PE ratio of -3.70 and a beta of 2.66. The business's 50-day simple moving average is $37.22 and its 200 day simple moving average is $62.37.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts' consensus estimates of ($2.76) by ($0.18). The business had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.36 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. On average, equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

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.

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