Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,629 shares of the company’s stock after selling 1,730 shares during the period. Rafferty Asset Management LLC owned 0.18% of Praxis Precision Medicines worth $2,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRAX. Janus Henderson Group PLC increased its position in Praxis Precision Medicines by 77.5% during the fourth quarter. Janus Henderson Group PLC now owns 929,523 shares of the company’s stock worth $71,621,000 after purchasing an additional 405,957 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Praxis Precision Medicines during the fourth quarter worth approximately $17,454,000. Millennium Management LLC increased its position in Praxis Precision Medicines by 3,519.4% during the fourth quarter. Millennium Management LLC now owns 150,892 shares of the company’s stock worth $11,613,000 after purchasing an additional 146,723 shares during the last quarter. Norges Bank acquired a new position in Praxis Precision Medicines during the fourth quarter worth approximately $9,151,000. Finally, CIBC Asset Management Inc increased its position in Praxis Precision Medicines by 47.3% during the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company’s stock worth $28,226,000 after purchasing an additional 117,817 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock opened at $37.35 on Tuesday. The business has a 50-day moving average of $35.58 and a 200-day moving average of $59.38. The company has a market capitalization of $760.78 million, a PE ratio of -3.63 and a beta of 2.65. Praxis Precision Medicines, Inc. has a 1-year low of $26.70 and a 1-year high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing the consensus estimate of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. On average, equities analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Monday, May 5th. Wedbush boosted their price objective on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an “underperform” rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, May 1st. Finally, Chardan Capital assumed coverage on shares of Praxis Precision Medicines in a research note on Wednesday, May 7th. They set a “buy” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.50.

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.