Tri Locum Partners LP Takes $2.87 Million Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Tri Locum Partners LP purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 37,269 shares of the company's stock, valued at approximately $2,868,000. Praxis Precision Medicines makes up approximately 0.6% of Tri Locum Partners LP's holdings, making the stock its 27th largest position. Tri Locum Partners LP owned 0.20% of Praxis Precision Medicines at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its stake in shares of Praxis Precision Medicines by 47.3% in the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock worth $28,226,000 after acquiring an additional 117,817 shares during the last quarter. Barclays PLC increased its holdings in shares of Praxis Precision Medicines by 126.8% in the third quarter. Barclays PLC now owns 37,130 shares of the company's stock valued at $2,136,000 after purchasing an additional 20,759 shares in the last quarter. Franklin Resources Inc. raised its position in Praxis Precision Medicines by 85.6% in the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock worth $25,619,000 after purchasing an additional 205,335 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Praxis Precision Medicines during the 4th quarter worth $304,000. Finally, Geode Capital Management LLC boosted its position in Praxis Precision Medicines by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 398,838 shares of the company's stock valued at $22,954,000 after buying an additional 3,779 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company's stock.

Praxis Precision Medicines Stock Performance

PRAX opened at $36.00 on Friday. The firm's fifty day moving average is $40.27 and its two-hundred day moving average is $63.13. The firm has a market cap of $725.87 million, a PE ratio of -3.50 and a beta of 2.66. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate 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 business had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.36 million. Equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 target price for the company. HC Wainwright cut their target price on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Wedbush cut shares of Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research report on Friday, February 28th. Robert W. Baird cut their price objective 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.33.

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.

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