BNP Paribas Financial Markets Purchases 7,496 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

BNP Paribas Financial Markets grew its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 369.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,525 shares of the company's stock after buying an additional 7,496 shares during the quarter. BNP Paribas Financial Markets owned 0.05% of Praxis Precision Medicines worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank bought a new position in Praxis Precision Medicines in the 2nd quarter worth $25,000. US Bancorp DE raised its holdings in Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company's stock worth $132,000 after purchasing an additional 605 shares during the period. Quarry LP bought a new position in Praxis Precision Medicines in the 2nd quarter worth $83,000. Intech Investment Management LLC bought a new position in Praxis Precision Medicines in the 3rd quarter worth $217,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Praxis Precision Medicines in the 3rd quarter worth $231,000. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock traded down $0.82 during trading on Friday, reaching $70.18. 186,848 shares of the stock traded hands, compared to its average volume of 282,721. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.81 and a beta of 2.67. The business has a fifty day simple moving average of $72.65 and a two-hundred day simple moving average of $58.65. Praxis Precision Medicines, Inc. has a 52-week low of $14.77 and a 52-week high of $86.93.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Oppenheimer increased their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, HC Wainwright reiterated a "buy" rating and issued a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $146.33.

Insider Buying and Selling

In related news, insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the completion of the transaction, the insider now owns 5,613 shares in the company, valued at approximately $459,031.14. This trade represents a 48.03 % decrease in their ownership of the stock. The transaction 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 Praxis Precision Medicines stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the transaction, the general counsel now owns 10,301 shares of the company's stock, valued at approximately $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 company insiders.

Praxis Precision Medicines 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.