Dimensional Fund Advisors LP Decreases Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Dimensional Fund Advisors LP lessened its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,544 shares of the company’s stock after selling 545 shares during the period. Dimensional Fund Advisors LP’s holdings in Praxis Precision Medicines were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRAX. Assenagon Asset Management S.A. raised its holdings in shares of Praxis Precision Medicines by 5,437.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company’s stock valued at $43,027,000 after purchasing an additional 548,986 shares in the last quarter. Norges Bank acquired a new stake in Praxis Precision Medicines during the 4th quarter worth $9,151,000. CIBC Asset Management Inc raised its stake in Praxis Precision Medicines by 47.3% during the 4th 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 in the last quarter. Alliancebernstein L.P. raised its stake in Praxis Precision Medicines by 335.8% during the 4th quarter. Alliancebernstein L.P. now owns 78,627 shares of the company’s stock worth $6,051,000 after acquiring an additional 60,587 shares in the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in Praxis Precision Medicines during the 4th quarter worth $3,496,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Down 0.5%

PRAX stock opened at $37.02 on Friday. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83. The company has a market cap of $754.06 million, a P/E ratio of -3.59 and a beta of 2.65. The company’s 50-day moving average price is $35.60 and its 200 day moving average price is $59.74.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. On average, equities research analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analysts Set New Price Targets

PRAX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a “buy” rating and a $111.00 price target on the stock. Wedbush lifted their price objective on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an “underperform” rating in a research note on Monday, May 5th. Chardan Capital began coverage on shares of Praxis Precision Medicines in a research note on Wednesday, May 7th. They issued a “buy” rating and a $80.00 price objective on the stock. Truist Financial dropped their price objective on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $105.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

Praxis Precision Medicines Profile

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.