Moody Aldrich Partners LLC Purchases 7,224 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Moody Aldrich Partners LLC grew its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 29.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,605 shares of the company's stock after acquiring an additional 7,224 shares during the quarter. Moody Aldrich Partners LLC owned 0.18% of Praxis Precision Medicines worth $1,819,000 at the end of the most recent quarter.

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 about $25,000. Quarry LP purchased a new position in Praxis Precision Medicines in the second quarter worth about $83,000. SG Americas Securities LLC bought a new position in shares of Praxis Precision Medicines in the first quarter worth approximately $150,000. Chase Investment Counsel Corp purchased a new stake in shares of Praxis Precision Medicines during the first quarter valued at approximately $229,000. Finally, Boulder Hill Capital Management LP bought a new stake in shares of Praxis Precision Medicines during the first quarter valued at approximately $256,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Trading Down 2.7 %

Shares of Praxis Precision Medicines stock traded down $1.93 during trading hours on Thursday, reaching $70.51. 122,509 shares of the stock traded hands, compared to its average volume of 276,824. Praxis Precision Medicines, Inc. has a one year low of $13.01 and a one year high of $75.73. The company has a 50 day moving average price of $60.01 and a 200 day moving average price of $52.38.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($1.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.38) by $0.64. Praxis Precision Medicines had a negative net margin of 6,987.01% and a negative return on equity of 61.47%. The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $1.44 million. Analysts predict that Praxis Precision Medicines, Inc. will post -8.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wedbush increased their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, August 14th. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, September 3rd. Piper Sandler reissued an "overweight" rating and issued a $270.00 target price on shares of Praxis Precision Medicines in a research report on Monday, July 1st. Oppenheimer reaffirmed an "outperform" rating and set a $143.00 price target (up previously from $134.00) on shares of Praxis Precision Medicines in a report on Wednesday, September 4th. Finally, HC Wainwright reissued a "buy" rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.44.

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.