Praxis Precision Medicines, Inc. $PRAX Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 44.3% during the third quarter, HoldingsChannel.com reports. The firm owned 11,575 shares of the company’s stock after buying an additional 3,555 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Praxis Precision Medicines were worth $3,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Praxis Precision Medicines in the second quarter valued at $38,000. Parallel Advisors LLC boosted its stake in Praxis Precision Medicines by 3,000.0% during the first quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock worth $40,000 after buying an additional 120 shares in the last quarter. IFP Advisors Inc boosted its stake in Praxis Precision Medicines by 632.0% during the third quarter. IFP Advisors Inc now owns 183 shares of the company’s stock worth $53,000 after buying an additional 158 shares in the last quarter. GAMMA Investing LLC boosted its stake in Praxis Precision Medicines by 10.3% during the second quarter. GAMMA Investing LLC now owns 332 shares of the company’s stock worth $111,000 after buying an additional 31 shares in the last quarter. Finally, ABS Direct Equity Fund LLC bought a new stake in Praxis Precision Medicines in the 1st quarter valued at $135,000. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX opened at $277.62 on Monday. The business’s fifty day moving average price is $291.73 and its two-hundred day moving average price is $313.72. Praxis Precision Medicines, Inc. has a fifty-two week low of $159.74 and a fifty-two week high of $392.70. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of -21.47 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($2.87) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.67) by $0.80. Research analysts expect that Praxis Precision Medicines, Inc. will post -14.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PRAX shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $462.00 price target (up from $449.00) on shares of Praxis Precision Medicines in a report on Friday, August 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $575.00 price objective (up from $470.00) on shares of Praxis Precision Medicines in a report on Friday, August 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Praxis Precision Medicines in a research report on Monday, August 24th. Piper Sandler reiterated an “overweight” rating on shares of Praxis Precision Medicines in a research report on Monday, July 13th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $945.00 target price on shares of Praxis Precision Medicines in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $630.42.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity.

Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions.