GSA Capital Partners LLP Trims Position in Praxis Precision Medicines, Inc. $PRAX

GSA Capital Partners LLP lessened its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 52.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,740 shares of the company’s stock after selling 6,268 shares during the quarter. GSA Capital Partners LLP’s holdings in Praxis Precision Medicines were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in 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 during the period. Tower Research Capital LLC TRC boosted its stake in shares of Praxis Precision Medicines by 24.3% during the 2nd 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 in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Praxis Precision Medicines by 6.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 6,425 shares of the company’s stock valued at $270,000 after purchasing an additional 385 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $444,000 after buying an additional 573 shares during the period. Finally, CWM LLC raised its stake 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 in the last quarter. Institutional investors own 67.84% of the company’s stock.

Analyst Upgrades and Downgrades

PRAX has been the topic of several research reports. Truist Financial upped their target price on Praxis Precision Medicines from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Citigroup restated a “conviction-buy” rating on shares of Praxis Precision Medicines in a research note on Tuesday, December 30th. Guggenheim reaffirmed a “buy” rating and issued a $800.00 price target (up from $760.00) on shares of Praxis Precision Medicines in a research note on Tuesday, February 10th. UBS Group set a $750.00 price objective on Praxis Precision Medicines in a report on Monday, December 15th. Finally, Robert W. Baird set a $433.00 target price on shares of Praxis Precision Medicines and gave the company an “outperform” rating in a report on Friday, February 20th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $576.12.

Praxis Precision Medicines Trading Down 1.1%

NASDAQ PRAX opened at $336.75 on Friday. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $356.00. The stock’s fifty day moving average price is $307.62 and its 200-day moving average price is $188.50. The stock has a market cap of $9.38 billion, a P/E ratio of -25.02 and a beta of 2.84.

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

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.