Candriam S.C.A. Sells 44,061 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Candriam S.C.A. cut its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 27.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,970 shares of the company's stock after selling 44,061 shares during the quarter. Candriam S.C.A. owned about 0.63% of Praxis Precision Medicines worth $9,079,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Praxis Precision Medicines in the 4th quarter valued at about $48,000. US Bancorp DE increased its stake in shares of Praxis Precision Medicines by 35.9% in the third quarter. US Bancorp DE now owns 2,289 shares of the company's stock worth $132,000 after purchasing an additional 605 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Praxis Precision Medicines in the third quarter valued at approximately $217,000. Arizona State Retirement System lifted its stake in shares of Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock valued at $296,000 after buying an additional 156 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in Praxis Precision Medicines in the 4th quarter worth approximately $304,000. Hedge funds and other institutional investors own 67.84% of the company's stock.

Praxis Precision Medicines Stock Performance

PRAX traded up $1.39 on Tuesday, reaching $37.60. The company had a trading volume of 446,701 shares, compared to its average volume of 501,200. Praxis Precision Medicines, Inc. has a 52-week low of $30.01 and a 52-week high of $91.83. The company has a market cap of $758.13 million, a price-to-earnings ratio of -3.65 and a beta of 2.76. The business has a 50 day simple moving average of $71.36 and a 200 day simple moving average of $69.13.

Remove Ads

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.76) by ($0.18). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The company had revenue of $7.48 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Wedbush lowered Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research note on Friday, February 28th. Needham & Company LLC dropped their price objective on Praxis Precision Medicines from $150.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They set a "buy" rating and a $111.00 target price for the company. Finally, HC Wainwright lowered their price target on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.80.

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.