B Group Inc. Acquires 16,000 Shares of Praxis Precision Medicines, Inc. $PRAX

B Group Inc. grew its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 84.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after purchasing an additional 16,000 shares during the quarter. Praxis Precision Medicines comprises about 1.1% of B Group Inc.’s investment portfolio, making the stock its 13th biggest position. B Group Inc.’s holdings in Praxis Precision Medicines were worth $1,472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its holdings in Praxis Precision Medicines by 188.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,742,758 shares of the company’s stock worth $65,998,000 after purchasing an additional 1,137,748 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Praxis Precision Medicines by 192.0% in the first quarter. Driehaus Capital Management LLC now owns 481,598 shares of the company’s stock worth $18,238,000 after buying an additional 316,686 shares during the last quarter. Vivo Capital LLC bought a new stake in shares of Praxis Precision Medicines during the 2nd quarter worth about $7,048,000. Woodline Partners LP increased its holdings in shares of Praxis Precision Medicines by 1,666.5% during the 1st quarter. Woodline Partners LP now owns 175,727 shares of the company’s stock valued at $6,655,000 after acquiring an additional 165,779 shares during the last quarter. Finally, Aberdeen Group plc raised its stake in shares of Praxis Precision Medicines by 143.5% in the 2nd quarter. Aberdeen Group plc now owns 214,056 shares of the company’s stock valued at $9,001,000 after acquiring an additional 126,153 shares in the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PRAX shares. Lifesci Capital raised Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $303.00 price objective on shares of Praxis Precision Medicines in a report on Friday. BTIG Research set a $507.00 target price on shares of Praxis Precision Medicines in a research note on Monday. Guggenheim reissued a “buy” rating and set a $540.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Praxis Precision Medicines in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $306.57.

Praxis Precision Medicines Stock Performance

Shares of PRAX opened at $270.98 on Tuesday. The company has a 50-day simple moving average of $154.98 and a 200-day simple moving average of $84.68. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $278.00. The firm has a market capitalization of $6.78 billion, a P/E ratio of -21.01 and a beta of 2.95.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($3.36) EPS for the quarter, beating the consensus estimate of ($3.45) by $0.09. As a group, equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Insider Transactions at Praxis Precision Medicines

In other news, General Counsel Alex Nemiroff sold 25,130 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $193.09, for a total value of $4,852,351.70. Following the sale, the general counsel directly owned 20,832 shares in the company, valued at approximately $4,022,450.88. This represents a 54.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lauren Mastrocola sold 13,600 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $192.08, for a total value of $2,612,288.00. Following the transaction, the insider owned 10,442 shares of the company’s stock, valued at $2,005,699.36. This represents a 56.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.70% of the company’s stock.

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.