HighVista Strategies LLC Purchases 27,714 Shares of Praxis Precision Medicines, Inc. $PRAX

HighVista Strategies LLC grew its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 41.2% in the third quarter, HoldingsChannel reports. The fund owned 95,002 shares of the company’s stock after acquiring an additional 27,714 shares during the period. Praxis Precision Medicines makes up 1.2% of HighVista Strategies LLC’s portfolio, making the stock its 20th largest position. HighVista Strategies LLC’s holdings in Praxis Precision Medicines were worth $5,035,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in shares of Praxis Precision Medicines by 24.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after purchasing an additional 359 shares in the last quarter. AlphaQuest LLC grew its position in Praxis Precision Medicines by 1,623.3% in the third quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock valued at $106,000 after purchasing an additional 1,883 shares in the last quarter. ProShare Advisors LLC bought a new position in Praxis Precision Medicines in the third quarter valued at $203,000. Coastal Bridge Advisors LLC acquired a new stake in Praxis Precision Medicines in the 3rd quarter valued at $204,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Praxis Precision Medicines in the 3rd quarter valued at $207,000. 67.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research restated a “buy” rating on shares of Praxis Precision Medicines in a research note on Monday, March 9th. Guggenheim reiterated a “buy” rating and set a $800.00 target price (up from $760.00) on shares of Praxis Precision Medicines in a report on Tuesday, February 10th. HC Wainwright reissued a “buy” rating and set a $1,245.00 price target (up from $340.00) on shares of Praxis Precision Medicines in a research report on Friday, January 30th. Wolfe Research started coverage on Praxis Precision Medicines in a research note on Monday, February 23rd. They issued an “outperform” rating and a $500.00 price target for the company. Finally, Robert W. Baird set a $433.00 price objective on Praxis Precision Medicines and gave the company an “outperform” rating in a report on Friday, February 20th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $576.12.

Praxis Precision Medicines Stock Down 3.1%

Shares of NASDAQ PRAX opened at $293.95 on Monday. The business’s 50 day moving average price is $312.65 and its two-hundred day moving average price is $209.06. The company has a market cap of $8.19 billion, a PE ratio of -21.84 and a beta of 2.86. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $356.00.

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

Praxis Precision Medicines Company Profile

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.