Jump Financial LLC purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,188 shares of the company's stock, valued at approximately $861,000. Jump Financial LLC owned 0.06% of Praxis Precision Medicines as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Praxis Precision Medicines in the fourth quarter worth $48,000. KLP Kapitalforvaltning AS acquired a new position in shares of Praxis Precision Medicines in the 4th quarter valued at approximately $215,000. Envestnet Asset Management Inc. bought a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $231,000. Fox Run Management L.L.C. acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $246,000. Finally, Arizona State Retirement System boosted its position in shares of Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock worth $296,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 67.84% of the company's stock.
Praxis Precision Medicines Price Performance
Shares of NASDAQ:PRAX remained flat at $36.00 during mid-day trading on Friday. 300,541 shares of the stock were exchanged, compared to its average volume of 378,974. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83. The firm has a market cap of $725.87 million, a price-to-earnings ratio of -3.50 and a beta of 2.66. The firm's fifty day simple moving average is $41.12 and its two-hundred day simple moving average is $63.33.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.76) by ($0.18). The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.36 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. Sell-side analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have weighed in on PRAX. Robert W. Baird cut their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, April 8th. Wedbush cut Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research report on Friday, February 28th. Truist Financial dropped their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, HC Wainwright decreased their price target on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Praxis Precision Medicines currently has an average rating of "Moderate Buy" and a consensus price target of $123.33.
Check Out Our Latest Stock Analysis on PRAX
About Praxis Precision Medicines
(
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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