GSA Capital Partners LLP Trims Stock Position in Praxis Precision Medicines, Inc. $PRAX

GSA Capital Partners LLP cut its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 52.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,740 shares of the company’s stock after selling 6,268 shares during the quarter. GSA Capital Partners LLP’s holdings in Praxis Precision Medicines were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its position 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. Vanguard Group Inc. increased its position in shares of Praxis Precision Medicines by 4.2% in the third quarter. Vanguard Group Inc. now owns 1,267,286 shares of the company’s stock worth $67,166,000 after purchasing an additional 51,642 shares during the last quarter. Geode Capital Management LLC raised its stake in Praxis Precision Medicines by 8.1% in the second quarter. Geode Capital Management LLC now owns 451,731 shares of the company’s stock valued at $18,997,000 after purchasing an additional 33,715 shares in the last quarter. Vivo Capital LLC bought a new stake in Praxis Precision Medicines during the second quarter valued at approximately $7,048,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Praxis Precision Medicines by 367.8% in 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 buying an additional 68,466 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Down 1.1%

NASDAQ:PRAX opened at $336.75 on Friday. The firm has a market capitalization of $9.38 billion, a P/E ratio of -25.02 and a beta of 2.84. The company has a fifty day moving average of $307.62 and a 200 day moving average of $188.50. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.50). As a group, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRAX. Wolfe Research assumed coverage on shares of Praxis Precision Medicines in a report on Monday. They set an “outperform” rating and a $500.00 price objective for the company. Wedbush upped their price objective on Praxis Precision Medicines from $95.00 to $130.00 and gave the stock an “underperform” rating in a report on Friday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $750.00 price objective (up from $250.00) on shares of Praxis Precision Medicines in a research report on Monday, December 15th. Citigroup restated a “conviction-buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday, December 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $1,200.00 price objective (up from $450.00) on shares of Praxis Precision Medicines in a report on Wednesday, January 28th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $576.12.

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.