Tri Locum Partners LP Invests $2.87 Million in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Tri Locum Partners LP purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,269 shares of the company's stock, valued at approximately $2,868,000. Praxis Precision Medicines accounts for about 0.6% of Tri Locum Partners LP's holdings, making the stock its 27th largest position. Tri Locum Partners LP owned about 0.20% of Praxis Precision Medicines at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of 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 in the last quarter. Geode Capital Management LLC increased its stake in Praxis Precision Medicines by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 398,838 shares of the company's stock valued at $22,954,000 after buying an additional 3,779 shares during the period. Franklin Resources Inc. lifted its position in Praxis Precision Medicines by 85.6% in the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock worth $25,619,000 after buying an additional 205,335 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Praxis Precision Medicines by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company's stock valued at $450,000 after buying an additional 448 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Praxis Precision Medicines by 5,437.7% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 67.84% of the company's stock.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock traded up $2.11 during trading hours on Friday, hitting $40.17. The company's stock had a trading volume of 260,309 shares, compared to its average volume of 382,974. The company has a market capitalization of $810.03 million, a PE ratio of -3.90 and a beta of 2.66. The stock has a 50 day moving average of $37.22 and a 200 day moving average of $62.37. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($3.29) EPS for the quarter, missing the consensus estimate 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 analysts expect that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their target price on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Robert W. Baird decreased 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. Needham & Company LLC reiterated a "buy" rating and issued a $85.00 target price on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They issued a "buy" rating and a $111.00 price target on the stock. Finally, Wedbush cut Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.33.

Praxis Precision Medicines 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.