Moody Aldrich Partners LLC Takes $12.30 Million Position in Praxis Precision Medicines, Inc. $PRAX

Moody Aldrich Partners LLC bought a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 41,731 shares of the company’s stock, valued at approximately $12,300,000. Praxis Precision Medicines accounts for approximately 2.3% of Moody Aldrich Partners LLC’s holdings, making the stock its biggest position.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Praxis Precision Medicines during the third quarter worth $715,000. Arizona State Retirement System acquired a new stake in shares of Praxis Precision Medicines in the 3rd quarter valued at $287,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Praxis Precision Medicines in the 3rd quarter valued at $204,000. Vanguard Group Inc. grew its holdings in shares of Praxis Precision Medicines by 4.2% in the 3rd 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. Finally, Rafferty Asset Management LLC grew its holdings in shares of Praxis Precision Medicines by 51.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 37,573 shares of the company’s stock worth $1,991,000 after purchasing an additional 12,768 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Down 2.7%

Shares of NASDAQ PRAX opened at $321.92 on Wednesday. Praxis Precision Medicines, Inc. has a 12-month low of $34.89 and a 12-month high of $356.00. The firm’s 50-day simple moving average is $318.47 and its 200 day simple moving average is $269.59. The company has a market cap of $8.97 billion, a price-to-earnings ratio of -23.92 and a beta of 2.94.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($3.00) by ($0.50). On average, equities analysts expect that Praxis Precision Medicines, Inc. will post -15.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRAX shares. Needham & Company LLC reissued a “buy” rating and set a $510.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $437.00 price objective on shares of Praxis Precision Medicines in a research note on Wednesday, April 15th. BTIG Research reiterated a “buy” rating and issued a $843.00 target price on shares of Praxis Precision Medicines in a research note on Monday, April 6th. TD Cowen reissued a “buy” rating on shares of Praxis Precision Medicines in a report on Thursday, January 29th. Finally, Wedbush increased their price target on Praxis Precision Medicines from $95.00 to $130.00 and gave the stock an “underperform” rating in a research report on Friday, February 20th. Five equities research analysts have rated the stock with a Strong Buy rating, twelve 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 has an average rating of “Buy” and a consensus price target of $590.78.

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.