Barclays PLC Has $156.43 Million Stock Position in Praxis Precision Medicines, Inc. $PRAX

Barclays PLC grew its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 592.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 530,751 shares of the company’s stock after buying an additional 454,114 shares during the period. Barclays PLC owned 2.11% of Praxis Precision Medicines worth $156,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Praxis Precision Medicines by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock worth $444,000 after purchasing an additional 573 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Praxis Precision Medicines by 367.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company’s stock worth $3,298,000 after buying an additional 68,466 shares in the last quarter. Creative Planning bought a new position in shares of Praxis Precision Medicines during the second quarter worth about $273,000. JPMorgan Chase & Co. grew its holdings in shares of Praxis Precision Medicines by 21.4% during the second quarter. JPMorgan Chase & Co. now owns 13,938 shares of the company’s stock worth $586,000 after buying an additional 2,459 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Praxis Precision Medicines by 15.7% during the second quarter. Legal & General Group Plc now owns 16,670 shares of the company’s stock worth $701,000 after acquiring an additional 2,261 shares in the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and set a $810.00 price target (down from $843.00) on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Praxis Precision Medicines in a research report on Wednesday, May 27th. Needham & Company LLC reissued a “buy” rating and set a $510.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $572.72.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX opened at $264.54 on Tuesday. The company has a market capitalization of $7.38 billion, a P/E ratio of -19.79 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 business’s 50 day simple moving average is $318.40 and its 200 day simple moving average is $301.91.

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

About Praxis Precision Medicines

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.