Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,063,639 shares of the company's stock after acquiring an additional 24,645 shares during the quarter. Vanguard Group Inc. owned about 5.71% of Praxis Precision Medicines worth $81,858,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in Praxis Precision Medicines by 5,437.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company's stock valued at $43,027,000 after purchasing an additional 548,986 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Praxis Precision Medicines by 85.6% during the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock valued at $25,619,000 after buying an additional 205,335 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Praxis Precision Medicines by 326.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,907 shares of the company's stock valued at $12,653,000 after buying an additional 168,394 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Praxis Precision Medicines by 47.3% in the 4th quarter. CIBC Asset Management Inc now owns 366,756 shares of the company's stock worth $28,226,000 after buying an additional 117,817 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Praxis Precision Medicines by 188.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 137,052 shares of the company's stock worth $7,886,000 after buying an additional 89,578 shares during the last quarter. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Trading Up 0.5 %

Shares of PRAX stock traded up $0.16 during mid-day trading on Tuesday, reaching $29.91. The stock had a trading volume of 89,577 shares, compared to its average volume of 506,275. Praxis Precision Medicines, Inc. has a 1-year low of $26.70 and a 1-year high of $91.83. The firm has a market cap of $603.08 million, a price-to-earnings ratio of -2.90 and a beta of 2.66. The business's fifty day moving average is $49.64 and its 200-day moving average is $64.91.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($2.94) earnings per share 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 during the quarter, compared to analyst estimates of $0.36 million. On average, analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRAX. Truist Financial lowered their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Robert W. Baird lowered their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Needham & Company LLC restated a "buy" rating and set a $85.00 target price on shares of Praxis Precision Medicines in a research note on Tuesday, April 8th. HC Wainwright decreased their price target on Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, Wedbush lowered Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Praxis Precision Medicines currently has an average rating of "Moderate Buy" and an average price target 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.