Janus Henderson Group PLC Purchases 141,881 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Janus Henderson Group PLC boosted its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 37.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 523,566 shares of the company's stock after acquiring an additional 141,881 shares during the period. Janus Henderson Group PLC owned 2.81% of Praxis Precision Medicines worth $30,079,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in shares of Praxis Precision Medicines by 10.2% in the second quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company's stock worth $43,498,000 after purchasing an additional 97,561 shares in the last quarter. Baker BROS. Advisors LP increased its stake in Praxis Precision Medicines by 145.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company's stock worth $18,591,000 after buying an additional 191,572 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Praxis Precision Medicines by 29.2% during the third quarter. CIBC Asset Management Inc now owns 248,939 shares of the company's stock valued at $14,324,000 after acquiring an additional 56,272 shares during the period. Marshall Wace LLP lifted its position in shares of Praxis Precision Medicines by 105.2% in the second quarter. Marshall Wace LLP now owns 248,381 shares of the company's stock valued at $10,273,000 after acquiring an additional 127,357 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Praxis Precision Medicines by 188.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 137,052 shares of the company's stock worth $7,886,000 after acquiring an additional 89,578 shares during the period. Hedge funds and other institutional investors own 67.84% of the company's stock.

Insider Activity at Praxis Precision Medicines

In related news, insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $81.78, for a total transaction of $424,274.64. Following the completion of the transaction, the insider now directly owns 5,613 shares of the company's stock, valued at approximately $459,031.14. The trade was a 48.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alex Nemiroff sold 8,239 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at $826,140.20. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Praxis Precision Medicines Price Performance

Shares of NASDAQ PRAX traded up $1.72 during mid-day trading on Friday, hitting $69.85. 217,113 shares of the company's stock traded hands, compared to its average volume of 331,499. Praxis Precision Medicines, Inc. has a 1 year low of $14.77 and a 1 year high of $86.93. The company's 50-day moving average is $71.74 and its two-hundred day moving average is $57.63. The company has a market capitalization of $1.30 billion, a P/E ratio of -6.78 and a beta of 2.67.

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 the consensus estimate of ($2.01) by ($0.74). The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.53 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. During the same period in the previous year, the firm earned ($2.70) earnings per share. Equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current fiscal year.

Analysts Set New Price Targets

PRAX has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $151.00 price target on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Wedbush upped their target price on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 14th. Guggenheim lifted their price target on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Oppenheimer boosted their price target on shares of 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 reaffirmed a "buy" rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.33.

About Praxis Precision Medicines

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.