Y Intercept Hong Kong Ltd Buys New Position in Praxis Precision Medicines, Inc. $PRAX

Y Intercept Hong Kong Ltd purchased a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,186 shares of the company’s stock, valued at approximately $1,706,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRAX. Nisa Investment Advisors LLC boosted its position in shares of Praxis Precision Medicines by 88.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock valued at $26,000 after purchasing an additional 295 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 359 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Praxis Precision Medicines by 6.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 6,425 shares of the company’s stock worth $270,000 after buying an additional 385 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Praxis Precision Medicines by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock worth $444,000 after buying an additional 573 shares during the last quarter. Finally, CWM LLC grew its position in Praxis Precision Medicines by 877.9% in the second quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after buying an additional 676 shares during the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Alex Nemiroff sold 25,130 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $193.09, for a total value of $4,852,351.70. Following the transaction, the general counsel directly owned 20,832 shares of the company’s stock, valued at approximately $4,022,450.88. This represents a 54.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lauren Mastrocola sold 13,600 shares of Praxis Precision Medicines stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $192.08, for a total value of $2,612,288.00. Following the sale, the insider directly owned 10,442 shares of the company’s stock, valued at approximately $2,005,699.36. The trade was a 56.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is owned by corporate insiders.

Praxis Precision Medicines Trading Up 1.4%

Shares of NASDAQ PRAX opened at $314.28 on Friday. Praxis Precision Medicines, Inc. has a one year low of $26.70 and a one year high of $326.91. The business has a 50-day moving average price of $266.93 and a two-hundred day moving average price of $148.84. The firm has a market capitalization of $7.92 billion, a PE ratio of -24.36 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.45) by $0.09. Research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PRAX shares. HC Wainwright reiterated a “buy” rating on shares of Praxis Precision Medicines in a research report on Friday. Guggenheim reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a report on Monday, December 29th. Citigroup reissued a “conviction-buy” rating on shares of Praxis Precision Medicines in a research note on Tuesday, December 30th. Chardan Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft set a $313.00 target price on shares of Praxis Precision Medicines in a research report on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $486.67.

Praxis Precision Medicines 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.