Goldman Sachs Group Inc. Grows Stock Holdings in Praxis Precision Medicines, Inc. $PRAX

Goldman Sachs Group Inc. raised its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 716,184 shares of the company’s stock after buying an additional 123,163 shares during the quarter. Goldman Sachs Group Inc. owned about 2.84% of Praxis Precision Medicines worth $211,088,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Praxis Precision Medicines during the fourth quarter valued at about $38,000. Danske Bank A S purchased a new stake in shares of Praxis Precision Medicines during the fourth quarter valued at about $59,000. GAMMA Investing LLC lifted its position in shares of Praxis Precision Medicines by 58.7% during the fourth quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock valued at $70,000 after buying an additional 88 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Praxis Precision Medicines by 60.0% during the fourth quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock valued at $108,000 after buying an additional 138 shares during the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in shares of Praxis Precision Medicines by 8.2% during the fourth quarter. GF Fund Management CO. LTD. now owns 490 shares of the company’s stock valued at $144,000 after buying an additional 37 shares during the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Stock Down 4.1%

Shares of Praxis Precision Medicines stock opened at $254.00 on Friday. Praxis Precision Medicines, Inc. has a 52 week low of $37.19 and a 52 week high of $366.52. The firm has a market capitalization of $7.08 billion, a P/E ratio of -19.00 and a beta of 2.71. The company has a 50 day moving average price of $324.36 and a 200 day moving average price of $298.09.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.58) by $0.38. As a group, research analysts anticipate that Praxis Precision Medicines, Inc. will post -14.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRAX has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and set a $800.00 price target (up from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday. Jefferies Financial Group reissued a “buy” rating on shares of Praxis Precision Medicines in a research report on Thursday, May 7th. Wells Fargo & Company set a $305.00 price target on shares of Praxis Precision Medicines and gave the company an “equal weight” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Praxis Precision Medicines in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $572.72.

About Praxis Precision Medicines

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.