Baker BROS. Advisors LP grew its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,533 shares of the company's stock after purchasing an additional 8,428 shares during the quarter. Baker BROS. Advisors LP owned approximately 1.78% of Praxis Precision Medicines worth $25,515,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 valued at $43,027,000 after acquiring an additional 548,986 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Praxis Precision Medicines in the fourth quarter worth about $17,454,000. Franklin Resources Inc. boosted its stake in shares of Praxis Precision Medicines by 85.6% during the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock valued at $25,619,000 after buying an additional 205,335 shares during the period. Norges Bank bought a new position in Praxis Precision Medicines during the fourth quarter valued at about $9,151,000. Finally, CIBC Asset Management Inc lifted its position in shares of 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 buying an additional 117,817 shares during the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.
Praxis Precision Medicines Stock Up 1.5 %
NASDAQ PRAX traded up $0.58 during trading hours on Friday, reaching $38.64. The company's stock had a trading volume of 180,111 shares, compared to its average volume of 389,050. The company has a market capitalization of $787.06 million, a price-to-earnings ratio of -3.75 and a beta of 2.65. Praxis Precision Medicines, Inc. has a 1 year low of $26.70 and a 1 year high of $91.83. The firm's 50-day moving average price is $35.58 and its 200-day moving average price is $61.15.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing analysts' consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. Equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.
Wall Street Analyst Weigh In
PRAX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a "buy" rating and a $111.00 price target on the stock. Wedbush increased their price objective on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a report on Monday. Robert W. Baird reduced their price target on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC restated a "buy" rating and issued a $80.00 price target on shares of Praxis Precision Medicines in a report on Monday. Finally, HC Wainwright restated a "buy" rating and set a $105.00 target price on shares of Praxis Precision Medicines in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Praxis Precision Medicines presently has an average rating of "Moderate Buy" and an average target price of $116.50.
Get Our Latest Analysis on Praxis Precision Medicines
About Praxis Precision Medicines
(
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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