Deutsche Bank AG Decreases Position in Praxis Precision Medicines, Inc. $PRAX

Deutsche Bank AG lowered its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,861 shares of the company’s stock after selling 1,463 shares during the period. Deutsche Bank AG owned 0.07% of Praxis Precision Medicines worth $525,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PRAX. GF Fund Management CO. LTD. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $30,000. GAMMA Investing LLC increased its stake in shares of Praxis Precision Medicines by 6,075.4% during the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company’s stock worth $152,000 after purchasing an additional 3,949 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $209,000. Envestnet Asset Management Inc. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $231,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter worth approximately $237,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

PRAX opened at $47.90 on Wednesday. The company has a fifty day moving average price of $48.97 and a 200-day moving average price of $45.33. The firm has a market capitalization of $1.01 billion, a P/E ratio of -3.90 and a beta of 2.62. Praxis Precision Medicines, Inc. has a one year low of $26.70 and a one year high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings results on Monday, August 4th. The company reported ($3.31) EPS for the quarter, beating analysts’ consensus estimates 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%. On average, analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRAX. Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, June 12th. 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. HC Wainwright reiterated a “buy” rating and issued a $115.00 price objective (up from $105.00) on shares of Praxis Precision Medicines in a research note on Tuesday, August 5th. Finally, Chardan Capital reiterated a “buy” rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.88.

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.