First Turn Management LLC Invests $10.54 Million in Praxis Precision Medicines, Inc. $PRAX

First Turn Management LLC bought a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,749 shares of the company’s stock, valued at approximately $10,537,000.

A number of other large investors have also modified their holdings of the business. GF Fund Management CO. LTD. raised its stake in shares of Praxis Precision Medicines by 8.2% during the 4th quarter. GF Fund Management CO. LTD. now owns 490 shares of the company’s stock worth $144,000 after buying an additional 37 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Praxis Precision Medicines by 58.7% during the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after buying an additional 88 shares in the last quarter. CWM LLC raised its stake in shares of Praxis Precision Medicines by 15.5% during the 4th quarter. CWM LLC now owns 874 shares of the company’s stock worth $258,000 after buying an additional 117 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Praxis Precision Medicines during the 4th quarter worth approximately $38,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Praxis Precision Medicines by 60.0% during the 4th quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock worth $108,000 after buying an additional 138 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial set a $616.00 target price on Praxis Precision Medicines and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Robert W. Baird dropped their price objective on Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating for the company in a research note on Tuesday, June 2nd. Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $374.00 price target (down from $420.00) on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $510.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, April 14th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $572.72.

Praxis Precision Medicines Trading Up 7.5%

Shares of Praxis Precision Medicines stock opened at $266.58 on Friday. Praxis Precision Medicines, Inc. has a twelve month low of $37.19 and a twelve month high of $366.52. The stock has a market capitalization of $7.43 billion, a P/E ratio of -19.94 and a beta of 2.71. The business’s fifty day moving average price is $319.32 and its 200 day moving average price is $300.57.

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