Barclays PLC grew its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 126.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,130 shares of the company's stock after acquiring an additional 20,759 shares during the quarter. Barclays PLC owned about 0.20% of Praxis Precision Medicines worth $2,136,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. Amalgamated Bank purchased a new position in shares of Praxis Precision Medicines in the 2nd quarter worth $25,000. Quarry LP acquired a new position in shares of Praxis Precision Medicines in the 2nd quarter valued at about $83,000. US Bancorp DE grew its holdings in shares of 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 during the period. Intech Investment Management LLC acquired a new stake in Praxis Precision Medicines during the 3rd quarter worth approximately $217,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Praxis Precision Medicines in the third quarter valued at approximately $231,000. 67.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Praxis Precision Medicines
In related news, General Counsel Alex Nemiroff sold 8,239 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines stock in a transaction on Thursday, November 14th. The stock was 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. This represents a 48.03 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.
Praxis Precision Medicines Stock Performance
Shares of NASDAQ PRAX traded down $1.22 during midday trading on Friday, reaching $77.00. 199,459 shares of the company's stock were exchanged, compared to its average volume of 291,536. The stock has a market capitalization of $1.44 billion, a PE ratio of -7.48 and a beta of 2.67. Praxis Precision Medicines, Inc. has a 52-week low of $19.61 and a 52-week high of $86.93. The business's fifty day moving average price is $74.07 and its two-hundred day moving average price is $60.68.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The business had revenue of $0.30 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm earned ($2.70) earnings per share. Analysts predict that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on PRAX shares. HC Wainwright reiterated a "buy" rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, Oppenheimer raised their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.33.
Read Our Latest Research Report on PRAX
Praxis Precision Medicines Company Profile
(
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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