Vanguard Group Inc. Increases Position in Praxis Precision Medicines, Inc. $PRAX

Vanguard Group Inc. increased its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,267,286 shares of the company’s stock after purchasing an additional 51,642 shares during the period. Vanguard Group Inc. owned 0.06% of Praxis Precision Medicines worth $67,166,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in Praxis Precision Medicines by 88.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock worth $26,000 after buying an additional 295 shares during the period. CWM LLC increased its stake in Praxis Precision Medicines by 877.9% in the 2nd quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after buying an additional 676 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Praxis Precision Medicines by 24.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock valued at $77,000 after acquiring an additional 359 shares during the period. AlphaQuest LLC raised its holdings in Praxis Precision Medicines by 1,623.3% during the third quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock valued at $106,000 after acquiring an additional 1,883 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of Praxis Precision Medicines in the third quarter valued at about $203,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 0.0%

Shares of PRAX stock opened at $310.71 on Friday. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of -23.08 and a beta of 2.86. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $356.00. The stock’s 50-day moving average price is $311.95 and its 200-day moving average price is $197.92.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($3.50) EPS for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.50). As a group, research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PRAX shares. Wells Fargo & Company set a $305.00 price objective on Praxis Precision Medicines and gave the stock an “equal weight” rating in a research note on Friday, February 20th. UBS Group set a $750.00 target price on Praxis Precision Medicines in a research note on Monday, December 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Praxis Precision Medicines in a report on Monday, December 29th. Citigroup restated a “conviction-buy” rating on shares of Praxis Precision Medicines in a research note on Tuesday, December 30th. Finally, Needham & Company LLC lifted their price objective on shares of Praxis Precision Medicines from $460.00 to $510.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and an average price target of $576.12.

About Praxis Precision Medicines

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.