Rhumbline Advisers Has $920,000 Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Rhumbline Advisers raised its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,294 shares of the company’s stock after buying an additional 1,525 shares during the quarter. Rhumbline Advisers owned about 0.12% of Praxis Precision Medicines worth $920,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System grew its position in shares of Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock worth $296,000 after buying an additional 156 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Praxis Precision Medicines by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company’s stock valued at $856,000 after purchasing an additional 258 shares during the period. California State Teachers Retirement System grew its position in shares of Praxis Precision Medicines by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 12,726 shares of the company’s stock valued at $979,000 after purchasing an additional 275 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Praxis Precision Medicines in the 4th quarter valued at approximately $30,000. Finally, MetLife Investment Management LLC grew its position in shares of Praxis Precision Medicines by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company’s stock valued at $822,000 after purchasing an additional 544 shares during the period. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRAX shares. 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, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, June 12th. Truist Financial decreased their price objective on 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. Oppenheimer set a $97.00 price objective on Praxis Precision Medicines and gave the company an “outperform” rating in a research report on Monday, June 2nd. Finally, Robert W. Baird decreased their price objective on 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. One research 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 has an average rating of “Moderate Buy” and a consensus target price of $109.90.

Praxis Precision Medicines Stock Performance

NASDAQ PRAX opened at $42.34 on Friday. The stock has a market capitalization of $862.47 million, a price-to-earnings ratio of -3.95 and a beta of 2.60. The stock’s 50 day moving average price is $38.59 and its two-hundred day moving average price is $53.84. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 50.42% and a negative net margin of 2,137.48%. On average, equities research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

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.