Assenagon Asset Management S.A. Has $43.03 Million Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Assenagon Asset Management S.A. increased its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 5,437.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 559,082 shares of the company's stock after purchasing an additional 548,986 shares during the quarter. Assenagon Asset Management S.A. owned approximately 3.00% of Praxis Precision Medicines worth $43,027,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. increased its position in Praxis Precision Medicines by 10.2% during the second quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company's stock worth $43,498,000 after buying an additional 97,561 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Praxis Precision Medicines by 37.2% during the 3rd quarter. Janus Henderson Group PLC now owns 523,566 shares of the company's stock worth $30,079,000 after acquiring an additional 141,881 shares during the period. Franklin Resources Inc. increased its holdings in shares of Praxis Precision Medicines by 85.6% during the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock worth $25,619,000 after acquiring an additional 205,335 shares during the last quarter. Geode Capital Management LLC raised its stake in Praxis Precision Medicines by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 398,838 shares of the company's stock valued at $22,954,000 after acquiring an additional 3,779 shares during the period. Finally, Baker BROS. Advisors LP lifted its holdings in Praxis Precision Medicines by 145.6% during the 3rd quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company's stock valued at $18,591,000 after purchasing an additional 191,572 shares during the last quarter. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Praxis Precision Medicines Trading Up 0.4 %

NASDAQ PRAX traded up $0.29 during trading on Friday, reaching $70.54. The company's stock had a trading volume of 293,837 shares, compared to its average volume of 317,558. The firm has a 50 day moving average price of $74.58 and a 200 day moving average price of $63.97. Praxis Precision Medicines, Inc. has a 12 month low of $33.01 and a 12 month high of $86.93. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.85 and a beta of 2.66.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.53 million. During the same quarter last year, the firm posted ($2.70) earnings per share. On average, equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current fiscal year.

Insider Transactions at Praxis Precision Medicines

In other news, insider Lauren Mastrocola sold 5,188 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $81.78, for a total transaction of $424,274.64. Following the completion of the sale, the insider now owns 5,613 shares of the company's stock, valued at approximately $459,031.14. This represents a 48.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Alex Nemiroff sold 8,239 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the sale, the general counsel now owns 10,301 shares in the company, valued at $826,140.20. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on PRAX. Oppenheimer upped their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. HC Wainwright reissued a "buy" rating and issued a $120.00 price target on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Finally, Needham & Company LLC restated a "buy" rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $146.33.

Praxis Precision Medicines Company Profile

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.