2,082 Shares in Praxis Precision Medicines, Inc. $PRAX Purchased by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,082 shares of the company’s stock, valued at approximately $614,000.

A number of other institutional investors have also recently made changes to their positions in the stock. NBC Securities Inc. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $38,000. Danske Bank A S purchased a new stake in Praxis Precision Medicines in the fourth quarter worth approximately $59,000. GAMMA Investing LLC grew its position in Praxis Precision Medicines by 58.7% in the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after purchasing an additional 88 shares during the period. Tower Research Capital LLC TRC raised its stake in Praxis Precision Medicines by 24.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock valued at $77,000 after buying an additional 359 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in Praxis Precision Medicines by 1,623.3% during the 3rd quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock valued at $106,000 after buying an additional 1,883 shares during the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PRAX. Weiss Ratings restated a “sell (d-)” rating on shares of Praxis Precision Medicines in a research note on Wednesday, May 27th. Needham & Company LLC reissued a “buy” rating and issued a $510.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday, April 14th. Raymond James Financial assumed coverage on Praxis Precision Medicines in a research note on Friday, April 10th. They set a “strong-buy” rating and a $815.00 price target for the company. HC Wainwright lowered their price objective on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Truist Financial set a $616.00 price objective on shares of Praxis Precision Medicines and gave the stock a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $572.72.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX opened at $264.75 on Friday. The company has a market capitalization of $7.38 billion, a P/E ratio of -19.80 and a beta of 2.71. Praxis Precision Medicines, Inc. has a 1-year low of $37.19 and a 1-year high of $366.52. The firm’s 50 day simple moving average is $325.52 and its two-hundred day simple moving average is $298.41.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, beating the consensus estimate of ($3.58) by $0.38. On average, sell-side analysts anticipate that Praxis Precision Medicines, Inc. will post -14.79 earnings per share for the current fiscal year.

Key Headlines Impacting Praxis Precision Medicines

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: LifeSci Capital reportedly rated Praxis Precision Medicines a Buy, adding to the bullish analyst backdrop. Praxis Precision Medicines (PRAX) Receives a Buy from LifeSci Capital
• Positive Sentiment: Praxis will present a corporate overview at Goldman Sachs’ Global Healthcare Conference, which may help management reinforce the investment thesis and outline pipeline plans. Praxis Precision Medicines to Participate in Goldmans Sachs 47th Annual Global Healthcare Conference
• Neutral Sentiment: HC Wainwright maintained a Buy rating but slightly reduced FY2028–FY2030 EPS estimates, signaling continued optimism with somewhat lower long-term expectations. Praxis Precision Medicines stock report
• Negative Sentiment: Coverage says Praxis paused its seizure program after a Phase 2 failure, a meaningful clinical setback that likely drove the stock lower. Praxis pauses one of its seizure programs after phase 2 fail

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.