Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) insider Lauren Mastrocola sold 5,188 shares of the company's 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 transaction, the insider now directly owns 5,613 shares of the company's stock, valued at approximately $459,031.14. This represents a 48.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Praxis Precision Medicines Stock Performance
Shares of PRAX traded down $5.12 during mid-day trading on Friday, reaching $71.76. 551,065 shares of the company's stock traded hands, compared to its average volume of 282,749. The business's 50-day moving average price is $66.65 and its 200-day moving average price is $54.91. The stock has a market capitalization of $1.34 billion, a P/E ratio of -6.87 and a beta of 2.67. Praxis Precision Medicines, Inc. has a 12 month low of $13.98 and a 12 month high of $86.93.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($2.75) EPS for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.53 million. During the same period in the previous year, the firm earned ($2.70) EPS. Equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in PRAX. Amalgamated Bank purchased a new position in Praxis Precision Medicines during the 2nd quarter worth approximately $25,000. US Bancorp DE grew its position in Praxis Precision Medicines by 35.9% during 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 in the last quarter. Quarry LP purchased a new position in Praxis Precision Medicines during the 2nd quarter worth approximately $83,000. SG Americas Securities LLC purchased a new position in Praxis Precision Medicines during the 1st quarter worth approximately $150,000. Finally, Kingdon Capital Management L.L.C. grew its position in Praxis Precision Medicines by 1.0% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 350,000 shares of the company's stock worth $21,357,000 after purchasing an additional 3,335 shares in the last quarter. Institutional investors and hedge funds own 67.84% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on PRAX shares. Wedbush boosted their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a "neutral" rating in a report on Wednesday, August 14th. Oppenheimer upped their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Guggenheim upped their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.33.
View Our Latest Stock Analysis on PRAX
Praxis Precision Medicines Company Profile
(
Get Free Report)
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.
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