3,826 Shares in Praxis Precision Medicines, Inc. $PRAX Purchased by ProShare Advisors LLC

ProShare Advisors LLC acquired a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,826 shares of the company’s stock, valued at approximately $203,000.

A number of other large investors have also modified their holdings of PRAX. Nisa Investment Advisors LLC lifted its holdings in shares of Praxis Precision Medicines by 88.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock valued at $26,000 after buying an additional 295 shares during the period. CWM LLC grew its holdings in Praxis Precision Medicines by 877.9% during the second quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after acquiring an additional 676 shares during the period. Tower Research Capital LLC TRC raised its position in Praxis Precision Medicines by 24.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after acquiring an additional 359 shares in the last quarter. AlphaQuest LLC lifted its holdings in Praxis Precision Medicines by 1,623.3% in the third quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock valued at $106,000 after acquiring an additional 1,883 shares during the period. Finally, Coastal Bridge Advisors LLC acquired a new stake in Praxis Precision Medicines in the third quarter valued at $204,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Price Performance

Shares of NASDAQ PRAX opened at $342.46 on Tuesday. The firm’s 50-day moving average is $301.92 and its two-hundred day moving average is $182.17. The company has a market capitalization of $9.54 billion, a PE ratio of -25.44 and a beta of 2.84. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $349.32.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.00) by ($0.50). On average, analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRAX. Guggenheim reiterated a “buy” rating and issued a $800.00 price target (up previously from $760.00) on shares of Praxis Precision Medicines in a report on Tuesday, February 10th. Oppenheimer reissued an “outperform” rating and set a $750.00 price objective (up previously from $250.00) on shares of Praxis Precision Medicines in a report on Monday, December 15th. Needham & Company LLC increased their target price on shares of Praxis Precision Medicines from $460.00 to $510.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. TD Cowen reiterated a “buy” rating on shares of Praxis Precision Medicines in a research report on Thursday, January 29th. Finally, Wedbush upped their price target on Praxis Precision Medicines from $95.00 to $130.00 and gave the stock an “underperform” rating in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and an average target price of $576.12.

Praxis Precision Medicines Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.