Wells Fargo & Company MN Boosts Stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Wells Fargo & Company MN lifted its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAXFree Report) by 46.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,612 shares of the company’s stock after buying an additional 2,746 shares during the period. Wells Fargo & Company MN’s holdings in Praxis Precision Medicines were worth $663,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PRAX. Vanguard Group Inc. raised its stake in shares of Praxis Precision Medicines by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company’s stock worth $81,858,000 after purchasing an additional 24,645 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Praxis Precision Medicines by 5,437.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company’s stock worth $43,027,000 after buying an additional 548,986 shares during the last quarter. Franklin Resources Inc. lifted its stake in Praxis Precision Medicines by 85.6% during the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock valued at $25,619,000 after acquiring an additional 205,335 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Praxis Precision Medicines by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 406,711 shares of the company’s stock valued at $31,308,000 after acquiring an additional 7,873 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Praxis Precision Medicines by 47.3% in the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company’s stock worth $28,226,000 after acquiring an additional 117,817 shares during the period. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 1.1 %

PRAX stock opened at $38.06 on Friday. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $91.83. The business’s 50-day moving average is $37.22 and its 200 day moving average is $62.37. The stock has a market cap of $767.40 million, a price-to-earnings ratio of -3.70 and a beta of 2.66.

Praxis Precision Medicines (NASDAQ:PRAXGet Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.76) by ($0.18). The firm had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. As a group, equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price target for the company. Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $105.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday. Finally, Robert W. Baird dropped their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

View Our Latest Stock Report on Praxis Precision Medicines

About Praxis Precision Medicines

(Free Report)

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.

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Institutional Ownership by Quarter for Praxis Precision Medicines (NASDAQ:PRAX)

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