Victory Capital Management Inc. Boosts Stock Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Victory Capital Management Inc. lifted its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 25.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,705 shares of the company’s stock after acquiring an additional 3,137 shares during the quarter. Victory Capital Management Inc. owned 0.18% of Praxis Precision Medicines worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PRAX. Simplex Trading LLC acquired a new position in Praxis Precision Medicines in the fourth quarter valued at $31,000. Jump Financial LLC acquired a new stake in shares of Praxis Precision Medicines during the third quarter worth about $56,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Praxis Precision Medicines by 45.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,130 shares of the company’s stock worth $96,000 after buying an additional 17,428 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Praxis Precision Medicines by 409.5% during the third quarter. Bank of New York Mellon Corp now owns 75,077 shares of the company’s stock worth $128,000 after buying an additional 60,342 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Praxis Precision Medicines by 44,585.5% during the third quarter. Citigroup Inc. now owns 83,115 shares of the company’s stock worth $142,000 after buying an additional 82,929 shares during the period. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 3.2 %

Shares of Praxis Precision Medicines stock opened at $44.08 on Friday. Praxis Precision Medicines, Inc. has a 12-month low of $12.45 and a 12-month high of $67.21. The stock has a market cap of $754.12 million, a PE ratio of -2.78 and a beta of 2.87. The company has a 50-day moving average of $51.59 and a two-hundred day moving average of $39.03.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results on Tuesday, March 5th. The company reported ($2.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.05) by $0.08. Praxis Precision Medicines had a negative net margin of 5,711.85% and a negative return on equity of 101.99%. The company had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $0.30 million. On average, sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -10.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRAX shares. Robert W. Baird started coverage on shares of Praxis Precision Medicines in a report on Wednesday, May 1st. They set an “outperform” rating and a $117.00 price target for the company. Jefferies Financial Group increased their price target on shares of Praxis Precision Medicines from $75.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Truist Financial reissued a “buy” rating and set a $150.00 price target on shares of Praxis Precision Medicines in a report on Thursday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $105.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Praxis Precision Medicines has an average rating of “Moderate Buy” and an average price target of $105.80.

About Praxis Precision Medicines

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.