Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 57.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 968 shares of the company’s stock after selling 1,321 shares during the quarter. US Bancorp DE’s holdings in Praxis Precision Medicines were worth $74,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in shares of Praxis Precision Medicines during the third quarter worth about $217,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Praxis Precision Medicines by 188.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 137,052 shares of the company’s stock valued at $7,886,000 after purchasing an additional 89,578 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Praxis Precision Medicines by 369.4% during the third quarter. BNP Paribas Financial Markets now owns 9,525 shares of the company’s stock worth $548,000 after purchasing an additional 7,496 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of Praxis Precision Medicines during the third quarter worth approximately $240,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Praxis Precision Medicines by 129.1% during the third quarter. MetLife Investment Management LLC now owns 10,131 shares of the company’s stock worth $583,000 after purchasing an additional 5,708 shares during the period. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRAX has been the subject of a number of analyst reports. HC Wainwright cut their price objective on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wedbush cut shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective on the stock. Robert W. Baird cut their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Needham & Company LLC decreased their price target on Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.80.

Praxis Precision Medicines Trading Up 1.7 %

NASDAQ:PRAX opened at $38.93 on Tuesday. Praxis Precision Medicines, Inc. has a twelve month low of $30.01 and a twelve month high of $91.83. The company has a market capitalization of $784.95 million, a P/E ratio of -3.78 and a beta of 2.76. The firm has a 50-day moving average price of $67.32 and a two-hundred day moving average price of $68.64.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The company had revenue of $7.48 million during the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. On average, equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share 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.