Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 188.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,052 shares of the company's stock after purchasing an additional 89,578 shares during the period. Charles Schwab Investment Management Inc. owned 0.74% of Praxis Precision Medicines worth $7,886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRAX. Intech Investment Management LLC bought a new stake in Praxis Precision Medicines during the third quarter valued at about $217,000. CIBC Asset Management Inc boosted its holdings in shares of Praxis Precision Medicines by 29.2% in the 3rd quarter. CIBC Asset Management Inc now owns 248,939 shares of the company's stock valued at $14,324,000 after buying an additional 56,272 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Praxis Precision Medicines in the 3rd quarter valued at about $231,000. US Bancorp DE boosted its holdings in shares of Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company's stock valued at $132,000 after buying an additional 605 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Praxis Precision Medicines by 29.6% in the 3rd quarter. Moody Aldrich Partners LLC now owns 31,605 shares of the company's stock valued at $1,819,000 after buying an additional 7,224 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Stock Performance

NASDAQ PRAX traded up $5.23 during trading hours on Wednesday, reaching $75.13. The stock had a trading volume of 251,729 shares, compared to its average volume of 282,782. Praxis Precision Medicines, Inc. has a 52-week low of $14.77 and a 52-week high of $86.93. The stock has a fifty day moving average of $72.17 and a 200 day moving average of $58.17. The stock has a market cap of $1.40 billion, a P/E ratio of -6.79 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) EPS for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.53 million. During the same quarter in the previous year, the firm posted ($2.70) earnings per share. On average, equities research analysts forecast that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

Insider Activity at Praxis Precision Medicines

In other Praxis Precision Medicines news, insider Lauren Mastrocola sold 5,188 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Alex Nemiroff sold 8,239 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the transaction, the general counsel now directly owns 10,301 shares of the company's stock, valued at $826,140.20. The trade was 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Oppenheimer raised their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. HC Wainwright reissued a "buy" rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Guggenheim raised their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Wedbush raised their price target on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Finally, 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Praxis Precision Medicines currently has an average rating of "Moderate Buy" and an average 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.