Cwm LLC Boosts Position in Praxis Precision Medicines, Inc. $PRAX

Cwm LLC increased its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 877.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 753 shares of the company’s stock after acquiring an additional 676 shares during the quarter. Cwm LLC’s holdings in Praxis Precision Medicines were worth $32,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRAX. Y Intercept Hong Kong Ltd purchased a new position in Praxis Precision Medicines during the first quarter worth about $237,000. XTX Topco Ltd acquired a new stake in shares of Praxis Precision Medicines during the 1st quarter worth approximately $380,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Praxis Precision Medicines by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock valued at $444,000 after buying an additional 573 shares during the period. Nuveen LLC purchased a new stake in shares of Praxis Precision Medicines during the 1st quarter valued at approximately $559,000. Finally, Algert Global LLC acquired a new position in Praxis Precision Medicines in the first quarter valued at approximately $814,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock opened at $172.35 on Friday. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -13.36 and a beta of 2.82. The business has a 50-day moving average of $91.13 and a 200 day moving average of $60.71. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $206.71.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.45) by $0.09. Equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRAX has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Praxis Precision Medicines from $80.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Wedbush boosted their price objective on shares of Praxis Precision Medicines from $73.00 to $77.00 and gave the company an “underperform” rating in a report on Thursday. Chardan Capital set a $330.00 target price on shares of Praxis Precision Medicines and gave the stock a “buy” rating in a research note on Friday, October 17th. Lifesci Capital upgraded shares of Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $280.00 price target (up from $65.00) on shares of Praxis Precision Medicines in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

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.