Two Sigma Investments LP Lowers Stock Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Two Sigma Investments LP lessened its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 11.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,066 shares of the company’s stock after selling 2,700 shares during the quarter. Two Sigma Investments LP owned about 0.11% of Praxis Precision Medicines worth $1,544,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PRAX. Arizona State Retirement System raised its holdings in Praxis Precision Medicines by 4.2% in the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock valued at $296,000 after acquiring an additional 156 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Praxis Precision Medicines by 2.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company’s stock worth $856,000 after acquiring an additional 258 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Praxis Precision Medicines by 5.4% during the fourth quarter. MetLife Investment Management LLC now owns 10,675 shares of the company’s stock worth $822,000 after acquiring an additional 544 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Praxis Precision Medicines in the 4th quarter valued at $48,000. Finally, New York State Common Retirement Fund grew its position in Praxis Precision Medicines by 12.1% in the 4th quarter. New York State Common Retirement Fund now owns 7,847 shares of the company’s stock valued at $604,000 after buying an additional 847 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 3.5%

Shares of PRAX opened at $41.20 on Wednesday. The business’s 50 day moving average is $35.71 and its two-hundred day moving average is $56.58. Praxis Precision Medicines, Inc. has a 52-week low of $26.70 and a 52-week high of $91.83. The firm has a market cap of $839.20 million, a price-to-earnings ratio of -4.00 and a beta of 2.65.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share 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 analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRAX has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $105.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, May 1st. Chardan Capital began coverage on Praxis Precision Medicines in a research note on Wednesday, May 7th. They set a “buy” rating and a $80.00 price target for the company. Oppenheimer assumed coverage on shares of Praxis Precision Medicines in a research note on Monday. They issued an “outperform” rating and a $97.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price target for the company. Finally, Wedbush lifted 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. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $109.90.

Praxis Precision Medicines Company 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.