Praxis Precision Medicines, Inc. $PRAX Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 91.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 852 shares of the company’s stock after selling 9,113 shares during the quarter. SG Americas Securities LLC’s holdings in Praxis Precision Medicines were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRAX. GF Fund Management CO. LTD. boosted its position in shares of Praxis Precision Medicines by 8.2% in the fourth quarter. GF Fund Management CO. LTD. now owns 490 shares of the company’s stock worth $144,000 after buying an additional 37 shares during the period. GAMMA Investing LLC raised its holdings in shares of Praxis Precision Medicines by 58.7% during the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock valued at $70,000 after buying an additional 88 shares during the period. CWM LLC lifted its position in Praxis Precision Medicines by 15.5% during the 4th quarter. CWM LLC now owns 874 shares of the company’s stock worth $258,000 after acquiring an additional 117 shares in the last quarter. NBC Securities Inc. purchased a new position in Praxis Precision Medicines in the 4th quarter worth approximately $38,000. Finally, Farther Finance Advisors LLC grew its position in Praxis Precision Medicines by 60.0% in the fourth quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock valued at $108,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Down 2.4%

PRAX stock opened at $324.99 on Friday. Praxis Precision Medicines, Inc. has a twelve month low of $37.19 and a twelve month high of $366.52. The company has a market capitalization of $9.06 billion, a P/E ratio of -24.31 and a beta of 2.74. The firm has a 50 day simple moving average of $312.75 and a 200-day simple moving average of $311.60.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.58) by $0.38. On average, research analysts predict that Praxis Precision Medicines, Inc. will post -14.82 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on PRAX. Truist Financial set a $616.00 target price on shares of Praxis Precision Medicines and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Robert W. Baird dropped their price target on shares of Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 2nd. Jefferies Financial Group reissued a “buy” rating on shares of Praxis Precision Medicines in a research report on Thursday, May 7th. HC Wainwright lowered their target price on Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $569.63.

Insider Buying and Selling at Praxis Precision Medicines

In other news, Director Jill Desimone sold 11,600 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $311.32, for a total value of $3,611,312.00. Following the completion of the sale, the director owned 2,337 shares of the company’s stock, valued at approximately $727,554.84. The trade was a 83.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.00% of the company’s stock.

About Praxis Precision Medicines

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.