US Bancorp DE Increases Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

US Bancorp DE lifted its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 35.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,289 shares of the company’s stock after purchasing an additional 605 shares during the period. US Bancorp DE’s holdings in Praxis Precision Medicines were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Praxis Precision Medicines in the first quarter valued at $412,000. SG Americas Securities LLC acquired a new stake in shares of Praxis Precision Medicines during the 1st quarter worth about $150,000. Vanguard Group Inc. lifted its stake in Praxis Precision Medicines by 100.6% during the first quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after purchasing an additional 373,131 shares during the last quarter. Boulder Hill Capital Management LP acquired a new position in Praxis Precision Medicines in the first quarter valued at approximately $256,000. Finally, StemPoint Capital LP purchased a new position in Praxis Precision Medicines in the first quarter valued at approximately $1,641,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Praxis Precision Medicines news, insider Lauren Mastrocola sold 5,188 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $81.78, for a total transaction of $424,274.64. Following the sale, the insider now directly owns 5,613 shares in the company, valued at approximately $459,031.14. The trade was a 48.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the transaction, the general counsel now directly owns 10,301 shares in the company, valued at approximately $826,140.20. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Praxis Precision Medicines Trading Down 6.7 %

Shares of PRAX stock opened at $71.76 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of -6.97 and a beta of 2.67. The business’s 50 day moving average is $67.00 and its two-hundred day moving average is $55.01. Praxis Precision Medicines, Inc. has a twelve month low of $13.98 and a twelve month high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.53 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. During the same period in the prior year, the business earned ($2.70) earnings per share. As a group, equities analysts predict that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRAX has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Oppenheimer raised their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Wedbush upped their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, Guggenheim lifted their price target on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and an average target price of $146.33.

Praxis Precision Medicines 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.