Marshall Wace LLP Sells 111,790 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Marshall Wace LLP cut its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 65.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,305 shares of the company's stock after selling 111,790 shares during the period. Marshall Wace LLP owned about 0.31% of Praxis Precision Medicines worth $4,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PRAX. CIBC Asset Management Inc increased its position in shares of Praxis Precision Medicines by 47.3% during the 4th quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock valued at $28,226,000 after purchasing an additional 117,817 shares during the last quarter. Barclays PLC increased its holdings in Praxis Precision Medicines by 126.8% during the third quarter. Barclays PLC now owns 37,130 shares of the company's stock worth $2,136,000 after buying an additional 20,759 shares during the last quarter. Franklin Resources Inc. boosted its stake in Praxis Precision Medicines by 85.6% in the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock valued at $25,619,000 after acquiring an additional 205,335 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Praxis Precision Medicines in the 4th quarter worth approximately $304,000. Finally, Geode Capital Management LLC grew its holdings in Praxis Precision Medicines by 1.0% during the third quarter. Geode Capital Management LLC now owns 398,838 shares of the company's stock valued at $22,954,000 after purchasing an additional 3,779 shares during the period. 67.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRAX has been the topic of a number of recent research reports. HC Wainwright dropped their price target on Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Robert W. Baird reduced their target price on shares of 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. Wedbush cut shares of Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research note on Friday, February 28th. Finally, Truist Financial cut their price objective 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. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $123.33.

Praxis Precision Medicines Stock Performance

Praxis Precision Medicines stock remained flat at $36.00 during midday trading on Friday. 300,541 shares of the company were exchanged, compared to its average volume of 380,904. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83. The stock has a market cap of $725.87 million, a price-to-earnings ratio of -3.50 and a beta of 2.66. The firm has a 50 day simple moving average of $40.27 and a two-hundred day simple moving average of $63.13.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing the consensus estimate of ($2.76) by ($0.18). The firm had revenue of $7.48 million during the quarter, compared to the consensus estimate 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%. As a group, analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

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.