Geode Capital Management LLC Has $22.95 Million Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Geode Capital Management LLC lifted its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 398,838 shares of the company’s stock after purchasing an additional 3,779 shares during the period. Geode Capital Management LLC owned 2.14% of Praxis Precision Medicines worth $22,954,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC lifted its stake in shares of Praxis Precision Medicines by 126.8% in the 3rd quarter. Barclays PLC now owns 37,130 shares of the company’s stock valued at $2,136,000 after purchasing an additional 20,759 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Praxis Precision Medicines by 326.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,907 shares of the company’s stock valued at $12,653,000 after purchasing an additional 168,394 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Praxis Precision Medicines by 37.2% in the 3rd 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 during the last quarter. HighVista Strategies LLC acquired a new stake in shares of Praxis Precision Medicines in the 3rd quarter valued at $630,000. Finally, Baker BROS. Advisors LP lifted its stake in shares of Praxis Precision Medicines by 145.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company’s stock valued at $18,591,000 after purchasing an additional 191,572 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analyst Upgrades and Downgrades

PRAX has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Finally, Oppenheimer lifted their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.33.

Insider Transactions at Praxis Precision Medicines

In related news, insider Lauren Mastrocola sold 5,188 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $81.78, for a total value of $424,274.64. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at approximately $826,140.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Praxis Precision Medicines Stock Performance

NASDAQ:PRAX opened at $77.00 on Friday. The firm’s 50-day moving average is $74.07 and its 200-day moving average is $60.68. Praxis Precision Medicines, Inc. has a 52-week low of $19.61 and a 52-week high of $86.93. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -7.48 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.53 million. During the same quarter in the previous year, the firm posted ($2.70) EPS. Equities analysts predict that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

About Praxis Precision Medicines

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.