Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Stock Position Lifted by Swiss National Bank

Swiss National Bank lifted its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,100 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Swiss National Bank’s holdings in Praxis Precision Medicines were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PRAX. Arizona State Retirement System increased its stake in shares of Praxis Precision Medicines by 4.2% during the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock valued at $296,000 after acquiring an additional 156 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Praxis Precision Medicines by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 142,892 shares of the company’s stock valued at $10,997,000 after purchasing an additional 5,840 shares during the period. New York State Common Retirement Fund increased its position in shares of Praxis Precision Medicines by 12.1% during the 4th quarter. New York State Common Retirement Fund now owns 7,847 shares of the company’s stock valued at $604,000 after purchasing an additional 847 shares during the period. CIBC Asset Management Inc raised its stake in shares of Praxis Precision Medicines by 47.3% in the 4th quarter. CIBC Asset Management Inc now owns 366,756 shares of the company’s stock worth $28,226,000 after buying an additional 117,817 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Praxis Precision Medicines in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRAX. Robert W. Baird lowered their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. HC Wainwright lowered their price objective on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Truist Financial cut their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC cut their price objective on Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

Praxis Precision Medicines Stock Performance

Shares of NASDAQ:PRAX opened at $38.66 on Friday. The firm has a 50 day simple moving average of $61.55 and a 200 day simple moving average of $67.30. Praxis Precision Medicines, Inc. has a 52 week low of $30.01 and a 52 week high of $91.83. The company has a market cap of $779.50 million, a PE ratio of -3.75 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The business had revenue of $7.48 million during the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. On average, equities analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

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.