VIRGINIA RETIREMENT SYSTEMS ET Al Takes $207,000 Position in Praxis Precision Medicines, Inc. $PRAX

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,900 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in Praxis Precision Medicines by 88.3% during 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. Tower Research Capital LLC TRC grew its stake in 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 valued at $77,000 after acquiring an additional 359 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of 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 valued at $270,000 after acquiring an additional 385 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Praxis Precision Medicines by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock worth $444,000 after purchasing an additional 573 shares during the period. Finally, CWM LLC raised its position in shares of Praxis Precision Medicines by 877.9% during the second quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after purchasing an additional 676 shares during the period. 67.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PRAX shares. Citigroup reissued a “conviction-buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday, December 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Praxis Precision Medicines in a report on Monday, December 29th. UBS Group set a $750.00 target price on shares of Praxis Precision Medicines in a research report on Monday, December 15th. HC Wainwright restated a “buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, December 30th. Finally, TD Cowen lifted their price target on Praxis Precision Medicines from $251.00 to $353.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.87.

Insider Activity at Praxis Precision Medicines

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

Praxis Precision Medicines Price Performance

NASDAQ PRAX opened at $272.90 on Wednesday. The company has a fifty day moving average price of $225.74 and a 200-day moving average price of $119.51. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -21.16 and a beta of 2.85. Praxis Precision Medicines, Inc. has a 1 year low of $26.70 and a 1 year high of $317.72.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share for the quarter, topping the consensus estimate of ($3.45) by $0.09. On average, 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.