Deutsche Bank AG Buys 5,009 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Deutsche Bank AG grew its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 48.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,324 shares of the company’s stock after buying an additional 5,009 shares during the quarter. Deutsche Bank AG owned 0.08% of Praxis Precision Medicines worth $1,179,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Praxis Precision Medicines by 7.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,208,522 shares of the company’s stock valued at $93,008,000 after acquiring an additional 88,442 shares during the last quarter. Vanguard Group Inc. increased its stake in Praxis Precision Medicines by 2.4% in the 4th 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 period. Geode Capital Management LLC increased its stake in Praxis Precision Medicines by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 406,711 shares of the company’s stock worth $31,308,000 after purchasing an additional 7,873 shares during the period. CIBC Asset Management Inc lifted its position in Praxis Precision Medicines by 47.3% in the fourth quarter. CIBC Asset Management Inc now owns 366,756 shares of the company’s stock valued at $28,226,000 after purchasing an additional 117,817 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in shares of Praxis Precision Medicines by 2.6% during the fourth quarter. Baker BROS. Advisors LP now owns 331,533 shares of the company’s stock valued at $25,515,000 after purchasing an additional 8,428 shares during the period. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Performance

Praxis Precision Medicines stock opened at $37.55 on Monday. The company has a market capitalization of $764.86 million, a PE ratio of -3.65 and a beta of 2.65. The company has a 50 day moving average price of $35.61 and a 200-day moving average price of $58.42. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Friday, May 2nd. The company reported ($3.29) EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analyst Ratings Changes

PRAX has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They set a “buy” rating and a $111.00 target price for the company. Wedbush boosted their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an “underperform” rating in a report on Monday, May 5th. Chardan Capital started coverage on Praxis Precision Medicines in a research report on Wednesday, May 7th. They set a “buy” rating and a $80.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $105.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.50.

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.