Praxis Precision Medicines, Inc. (NASDAQ:PRAX) General Counsel Sells $660,767.80 in Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) General Counsel Alex Nemiroff sold 8,239 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at $826,140.20. This represents a 44.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Praxis Precision Medicines Trading Down 6.7 %

NASDAQ:PRAX opened at $71.76 on Friday. The business’s fifty day moving average price is $67.00 and its 200 day moving average price is $55.01. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.97 and a beta of 2.67. Praxis Precision Medicines, Inc. has a 1-year low of $13.98 and a 1-year high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.74). The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same quarter in the prior year, the company earned ($2.70) EPS. Equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wedbush lifted their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Oppenheimer boosted their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, Guggenheim increased their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.33.

Institutional Investors Weigh In On Praxis Precision Medicines

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in shares of Praxis Precision Medicines in the first quarter worth $412,000. SG Americas Securities LLC purchased a new position in Praxis Precision Medicines in the first quarter valued at about $150,000. Vanguard Group Inc. increased its position in Praxis Precision Medicines by 100.6% in the 1st quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after purchasing an additional 373,131 shares during the last quarter. Boulder Hill Capital Management LP purchased a new stake in shares of Praxis Precision Medicines during the 1st quarter worth about $256,000. Finally, StemPoint Capital LP purchased a new stake in shares of Praxis Precision Medicines during the 1st quarter worth about $1,641,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.