Praxis Precision Medicines (NASDAQ:PRAX) Sees Unusually-High Trading Volume

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) saw an uptick in trading volume on Monday . 383,779 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 215,702 shares.The stock last traded at $46.00 and had previously closed at $46.89.

Analyst Ratings Changes

A number of research firms recently commented on PRAX. Wedbush upped their price objective on shares of Praxis Precision Medicines from $16.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. HC Wainwright reiterated a “buy” rating and set a $105.00 target price on shares of Praxis Precision Medicines in a report on Tuesday, March 26th. Finally, Jefferies Financial Group increased their target price on Praxis Precision Medicines from $75.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th.

Praxis Precision Medicines Price Performance

The business’s 50 day moving average is $51.31 and its 200-day moving average is $34.06.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.05) by $0.08. The business had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $0.30 million. Praxis Precision Medicines had a negative net margin of 5,037.88% and a negative return on equity of 151.02%. On average, equities analysts anticipate that Praxis Precision Medicines, Inc. will post -8.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Praxis Precision Medicines

Hedge funds have recently modified their holdings of the business. Simplex Trading LLC bought a new position in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $31,000. Windmill Hill Asset Management Ltd bought a new position in shares of Praxis Precision Medicines during the 1st quarter valued at approximately $321,000. DLD Asset Management LP bought a new position in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $223,000. PCG Wealth Advisors LLC bought a new position in shares of Praxis Precision Medicines during the 1st quarter valued at approximately $788,000. Finally, Victory Capital Management Inc. grew its position in shares of Praxis Precision Medicines by 25.0% during the 4th quarter. Victory Capital Management Inc. now owns 15,705 shares of the company’s stock valued at $350,000 after acquiring an additional 3,137 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Company 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.