Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Bought by Barclays PLC

Barclays PLC grew its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 126.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,130 shares of the company’s stock after purchasing an additional 20,759 shares during the quarter. Barclays PLC owned approximately 0.20% of Praxis Precision Medicines worth $2,136,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PRAX. Wellington Management Group LLP boosted its holdings in shares of Praxis Precision Medicines by 326.9% in the third quarter. Wellington Management Group LLP now owns 219,907 shares of the company’s stock valued at $12,653,000 after acquiring an additional 168,394 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Praxis Precision Medicines by 37.2% in the third quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock valued at $30,079,000 after purchasing an additional 141,881 shares in the last quarter. HighVista Strategies LLC acquired a new position in shares of Praxis Precision Medicines in the third quarter worth $630,000. Baker BROS. Advisors LP boosted its position in Praxis Precision Medicines by 145.6% during the third quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company’s stock worth $18,591,000 after acquiring an additional 191,572 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in Praxis Precision Medicines by 301.7% in the 3rd quarter. Fred Alger Management LLC now owns 10,423 shares of the company’s stock valued at $600,000 after acquiring an additional 7,828 shares during the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Praxis Precision Medicines Stock Performance

NASDAQ:PRAX opened at $78.22 on Friday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -7.59 and a beta of 2.67. The business has a fifty day moving average of $73.99 and a 200-day moving average of $60.43. Praxis Precision Medicines, Inc. has a 1 year low of $19.61 and a 1 year high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.74). The firm had revenue of $0.30 million during 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 quarter last year, the company earned ($2.70) earnings per share. On average, equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $146.33.

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.