Praxis Precision Medicines (NASDAQ:PRAX) Director Jill Desimone Sells 11,600 Shares

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Director Jill Desimone sold 11,600 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $311.32, for a total transaction of $3,611,312.00. Following the sale, the director owned 2,337 shares of the company’s stock, valued at $727,554.84. The trade was a 83.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Praxis Precision Medicines Price Performance

Shares of PRAX stock traded down $0.07 during trading hours on Friday, reaching $327.79. The company had a trading volume of 2,060,205 shares, compared to its average volume of 488,008. Praxis Precision Medicines, Inc. has a 1-year low of $37.19 and a 1-year high of $366.52. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of -24.52 and a beta of 2.71. The company has a 50 day moving average of $314.27 and a 200 day moving average of $307.37.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, topping analysts’ consensus estimates of ($3.58) by $0.38. As a group, sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -14.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $810.00 price target (down from $843.00) on shares of Praxis Precision Medicines in a research note on Tuesday, June 2nd. Oppenheimer reissued an “outperform” rating and set a $650.00 price objective (down from $750.00) on shares of Praxis Precision Medicines in a research note on Tuesday, June 2nd. HC Wainwright decreased their price objective on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Royal Bank Of Canada initiated coverage on shares of Praxis Precision Medicines in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $449.00 target price for the company. Finally, Raymond James Financial started coverage on shares of Praxis Precision Medicines in a report on Friday, April 10th. They issued a “strong-buy” rating and a $815.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $566.21.

Institutional Investors Weigh In On Praxis Precision Medicines

A number of hedge funds have recently modified their holdings of the business. Orbis Allan Gray Ltd bought a new position in shares of Praxis Precision Medicines during the 4th quarter valued at about $369,946,000. Janus Henderson Group PLC raised its holdings in Praxis Precision Medicines by 17.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,240,086 shares of the company’s stock worth $954,834,000 after buying an additional 476,227 shares during the period. Barclays PLC raised its holdings in Praxis Precision Medicines by 592.6% during the 4th quarter. Barclays PLC now owns 530,751 shares of the company’s stock worth $156,434,000 after buying an additional 454,114 shares during the period. Baker BROS. Advisors LP lifted its stake in Praxis Precision Medicines by 63.4% in the fourth quarter. Baker BROS. Advisors LP now owns 1,126,488 shares of the company’s stock valued at $332,021,000 after buying an additional 437,000 shares in the last quarter. Finally, Perceptive Advisors LLC lifted its stake in Praxis Precision Medicines by 27.6% in the fourth quarter. Perceptive Advisors LLC now owns 1,995,986 shares of the company’s stock valued at $588,297,000 after buying an additional 431,432 shares in the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.