Swiss National Bank Has $1.03 Million Stock Position in Praxis Precision Medicines, Inc. $PRAX

Swiss National Bank boosted its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 27,100 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Swiss National Bank owned about 0.13% of Praxis Precision Medicines worth $1,026,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PRAX. Price T Rowe Associates Inc. MD raised its holdings in 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 period. Vanguard Group Inc. raised its holdings in Praxis Precision Medicines by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,087,020 shares of the company’s stock valued at $41,165,000 after acquiring an additional 23,381 shares during the period. VR Adviser LLC raised its holdings in Praxis Precision Medicines by 40.2% in the 4th quarter. VR Adviser LLC now owns 989,985 shares of the company’s stock valued at $76,189,000 after acquiring an additional 283,854 shares during the period. Janus Henderson Group PLC raised its holdings in Praxis Precision Medicines by 77.5% in the 4th quarter. Janus Henderson Group PLC now owns 929,523 shares of the company’s stock valued at $71,621,000 after acquiring an additional 405,957 shares during the period. Finally, Baker BROS. Advisors LP raised its holdings in Praxis Precision Medicines by 2.6% in the 4th quarter. Baker BROS. Advisors LP now owns 331,533 shares of the company’s stock valued at $25,515,000 after acquiring an additional 8,428 shares during the period. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wedbush increased their price target on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an “underperform” rating in a report on Monday, May 5th. Oppenheimer increased their price target on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Chardan Capital reissued a “buy” rating and issued a $80.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price target on shares of Praxis Precision Medicines in a report on Thursday, June 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price (up from $105.00) on shares of Praxis Precision Medicines in a report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.88.

Praxis Precision Medicines Trading Down 3.8%

Shares of PRAX opened at $46.94 on Tuesday. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $91.83. The firm’s 50 day moving average is $48.89 and its 200-day moving average is $45.31. The stock has a market capitalization of $987.90 million, a PE ratio of -3.82 and a beta of 2.62.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its earnings results on Monday, August 4th. The company reported ($3.31) EPS for the quarter, topping the consensus estimate of ($3.40) by $0.09. Praxis Precision Medicines had a negative net margin of 2,137.48% and a negative return on equity of 60.07%. Equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

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.