Vanguard Group Inc. Purchases 24,645 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Vanguard Group Inc. boosted its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,063,639 shares of the company’s stock after acquiring an additional 24,645 shares during the period. Vanguard Group Inc. owned 0.06% of Praxis Precision Medicines worth $81,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Simplify Asset Management Inc. purchased a new position in shares of Praxis Precision Medicines during the 4th quarter valued at $3,316,000. Fox Run Management L.L.C. bought a new stake in Praxis Precision Medicines during the fourth quarter valued at $246,000. KLP Kapitalforvaltning AS bought a new stake in Praxis Precision Medicines during the fourth quarter valued at $215,000. American Century Companies Inc. grew its position in Praxis Precision Medicines by 51.2% during the fourth quarter. American Century Companies Inc. now owns 15,594 shares of the company’s stock worth $1,200,000 after buying an additional 5,281 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Praxis Precision Medicines in the 4th quarter valued at about $305,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 7.9 %

Shares of NASDAQ:PRAX opened at $30.85 on Thursday. The stock has a market cap of $622.03 million, a PE ratio of -3.00 and a beta of 2.66. The company’s fifty day moving average is $52.92 and its 200 day moving average is $65.46. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data 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). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The company had revenue of $7.48 million for the quarter, compared to the consensus estimate of $0.36 million. Sell-side analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PRAX shares. Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday. HC Wainwright cut their price target on shares of Praxis Precision Medicines from $120.00 to $105.00 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 report on Friday, February 28th. Truist Financial dropped their price objective on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Robert W. Baird reduced their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $123.33.

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.