Janus Henderson Group PLC increased its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 77.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 929,523 shares of the company's stock after acquiring an additional 405,957 shares during the quarter. Janus Henderson Group PLC owned about 4.99% of Praxis Precision Medicines worth $71,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in PRAX. CIBC Asset Management Inc lifted its position in Praxis Precision Medicines by 47.3% in the 4th quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock valued at $28,226,000 after acquiring an additional 117,817 shares in the last quarter. Barclays PLC raised its position in Praxis Precision Medicines by 126.8% in the 3rd quarter. Barclays PLC now owns 37,130 shares of the company's stock worth $2,136,000 after buying an additional 20,759 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Praxis Precision Medicines during the 4th quarter valued at about $304,000. Vanguard Group Inc. boosted its holdings in shares of Praxis Precision Medicines by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company's stock valued at $81,858,000 after acquiring an additional 24,645 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Praxis Precision Medicines by 5,437.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company's stock valued at $43,027,000 after purchasing an additional 548,986 shares during the last quarter. 67.84% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
PRAX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a "buy" rating and a $111.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a 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 report on Thursday, May 1st. Truist Financial dropped their price target on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, Chardan Capital initiated coverage on Praxis Precision Medicines in a report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price target for the company. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.50.
Read Our Latest Research Report on Praxis Precision Medicines
Praxis Precision Medicines Stock Down 2.9%
Praxis Precision Medicines stock traded down $1.09 during midday trading on Monday, reaching $35.93. The stock had a trading volume of 49,445 shares, compared to its average volume of 386,879. The firm has a market cap of $731.88 million, a price-to-earnings ratio of -3.50 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. The company has a fifty day moving average of $35.60 and a 200 day moving average of $59.60.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (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 research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current 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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