SG Americas Securities LLC Invests $715,000 in Praxis Precision Medicines, Inc. $PRAX

SG Americas Securities LLC purchased a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,496 shares of the company’s stock, valued at approximately $715,000. SG Americas Securities LLC owned 0.06% of Praxis Precision Medicines at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its stake in Praxis Precision Medicines by 13.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock worth $83,031,000 after buying an additional 231,827 shares in the last quarter. Vivo Capital LLC bought a new stake in shares of Praxis Precision Medicines during the 2nd quarter worth approximately $7,048,000. Aberdeen Group plc lifted its holdings in shares of Praxis Precision Medicines by 143.5% during the 2nd quarter. Aberdeen Group plc now owns 214,056 shares of the company’s stock worth $9,001,000 after acquiring an additional 126,153 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Praxis Precision Medicines by 367.8% during the 1st 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 acquiring an additional 68,466 shares in the last quarter. Finally, Exome Asset Management LLC bought a new position in Praxis Precision Medicines in the second quarter valued at approximately $2,481,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRAX shares. Deutsche Bank Aktiengesellschaft set a $313.00 target price on Praxis Precision Medicines in a research note on Friday, December 12th. Truist Financial raised their price objective on Praxis Precision Medicines from $360.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Guggenheim reiterated a “buy” rating on shares of Praxis Precision Medicines in a research report on Monday, December 29th. Citigroup reissued a “conviction-buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, December 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Praxis Precision Medicines in a research note on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $436.67.

Praxis Precision Medicines Trading Down 3.5%

Praxis Precision Medicines stock opened at $312.60 on Thursday. The stock has a 50-day moving average price of $251.94 and a two-hundred day moving average price of $138.66. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $326.91. The company has a market capitalization of $7.87 billion, a PE ratio of -24.23 and a beta of 2.85.

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

Insider Activity at Praxis Precision Medicines

In related news, General Counsel Alex Nemiroff sold 25,130 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $193.09, for a total value of $4,852,351.70. Following the sale, the general counsel owned 20,832 shares of the company’s stock, valued at $4,022,450.88. The trade was a 54.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lauren Mastrocola sold 13,600 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $192.08, for a total value of $2,612,288.00. Following the completion of the sale, the insider owned 10,442 shares of the company’s stock, valued at $2,005,699.36. The trade was a 56.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.70% of the company’s stock.

Praxis Precision Medicines Company 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.