SG Americas Securities LLC Invests $715,000 in Praxis Precision Medicines, Inc. $PRAX

SG Americas Securities LLC bought a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 3rd quarter, Holdings Channel.com reports. The firm bought 13,496 shares of the company’s stock, valued at approximately $715,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Praxis Precision Medicines by 88.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock worth $26,000 after purchasing an additional 295 shares during the period. CWM LLC raised its stake in 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 buying an additional 676 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 buying an additional 359 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Praxis Precision Medicines in the third quarter valued at $207,000. Finally, Maven Securities LTD bought a new stake in Praxis Precision Medicines during the second quarter valued at $210,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Insiders Place Their Bets

In other Praxis Precision Medicines news, General Counsel Alex Nemiroff sold 25,130 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $193.09, for a total value of $4,852,351.70. Following the transaction, the general counsel directly owned 20,832 shares of the company’s stock, valued at approximately $4,022,450.88. This trade represents a 54.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lauren Mastrocola sold 13,600 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 10,442 shares of the company’s stock, valued at approximately $2,005,699.36. The trade was a 56.57% 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 currently owned by company insiders.

Praxis Precision Medicines Stock Down 3.5%

NASDAQ PRAX opened at $312.60 on Thursday. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $326.91. The business has a 50 day moving average price of $251.94 and a 200-day moving average price of $138.66. The company has a market cap of $7.87 billion, a price-to-earnings ratio of -24.23 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.45) by $0.09. On average, equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRAX. Weiss Ratings reissued a “sell (e+)” rating on shares of Praxis Precision Medicines in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating on shares of Praxis Precision Medicines in a research note on Tuesday, December 30th. Citigroup restated a “conviction-buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, December 30th. Chardan Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Guggenheim reiterated a “buy” rating on shares of Praxis Precision Medicines in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $436.67.

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.