Charles Schwab Investment Management Inc. Acquires 5,840 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Charles Schwab Investment Management Inc. lifted its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,892 shares of the company’s stock after buying an additional 5,840 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.77% of Praxis Precision Medicines worth $10,997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc increased its position in shares of Praxis Precision Medicines by 47.3% in 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 period. Barclays PLC lifted its stake in shares of Praxis Precision Medicines by 126.8% in the third quarter. Barclays PLC now owns 37,130 shares of the company’s stock worth $2,136,000 after acquiring an additional 20,759 shares during the period. Franklin Resources Inc. lifted its stake in shares of Praxis Precision Medicines by 85.6% in the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock worth $25,619,000 after acquiring an additional 205,335 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Praxis Precision Medicines by 369.4% in the third quarter. BNP Paribas Financial Markets now owns 9,525 shares of the company’s stock worth $548,000 after acquiring an additional 7,496 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Praxis Precision Medicines in the fourth quarter valued at approximately $304,000. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Stock Down 1.5 %

PRAX opened at $37.12 on Friday. Praxis Precision Medicines, Inc. has a 52 week low of $30.01 and a 52 week high of $91.83. The stock’s fifty day moving average is $64.56 and its two-hundred day moving average is $67.99. The company has a market capitalization of $748.45 million, a P/E ratio of -3.60 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.76) by ($0.18). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The company had revenue of $7.48 million during the quarter, compared to analyst estimates of $0.36 million. Equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRAX. Wedbush lowered Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. Needham & Company LLC dropped their price target on Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Truist Financial cut their target price on Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, 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. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

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.