Teacher Retirement System of Texas Invests $305,000 in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Teacher Retirement System of Texas purchased a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,961 shares of the company’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank grew its holdings in Praxis Precision Medicines by 4.0% in the 4th quarter. Swiss National Bank now owns 26,100 shares of the company’s stock valued at $2,009,000 after buying an additional 1,000 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Praxis Precision Medicines by 4.2% in the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock valued at $296,000 after purchasing an additional 156 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Praxis Precision Medicines by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,892 shares of the company’s stock valued at $10,997,000 after purchasing an additional 5,840 shares during the period. New York State Common Retirement Fund increased its position in Praxis Precision Medicines by 12.1% during the fourth quarter. New York State Common Retirement Fund now owns 7,847 shares of the company’s stock worth $604,000 after purchasing an additional 847 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Praxis Precision Medicines by 47.3% during 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. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRAX. Deutsche Bank Aktiengesellschaft started coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price target for the company. 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. Wedbush downgraded Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. HC Wainwright lowered their price target on Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Needham & Company LLC reduced their price objective on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

Praxis Precision Medicines Trading Down 5.3 %

PRAX stock opened at $35.87 on Wednesday. The business’s fifty day moving average price is $60.04 and its 200 day moving average price is $67.11. Praxis Precision Medicines, Inc. has a 12-month low of $30.01 and a 12-month high of $91.83. The company has a market capitalization of $723.25 million, a PE ratio of -3.48 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly 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). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The business had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $0.36 million. Research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

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.