Wellington Management Group LLP Sells 13,158 Shares of Praxis Precision Medicines, Inc. $PRAX

Wellington Management Group LLP decreased its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 20.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,776 shares of the company’s stock after selling 13,158 shares during the quarter. Wellington Management Group LLP owned 0.25% of Praxis Precision Medicines worth $1,923,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Praxis Precision Medicines in the 4th quarter worth about $30,000. GAMMA Investing LLC lifted its position in 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 buying an additional 3,949 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Praxis Precision Medicines during the 4th quarter worth about $209,000. Envestnet Asset Management Inc. acquired a new position in Praxis Precision Medicines during the 4th quarter worth about $231,000. Finally, Freestone Grove Partners LP acquired a new position in Praxis Precision Medicines during the 4th quarter worth about $237,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Down 1.0%

Praxis Precision Medicines stock opened at $45.54 on Friday. Praxis Precision Medicines, Inc. has a 1 year low of $26.70 and a 1 year high of $91.83. The company has a market cap of $958.62 million, a PE ratio of -3.71 and a beta of 2.62. The company’s 50-day moving average is $49.18 and its two-hundred day moving average is $44.53.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Monday, August 4th. The company reported ($3.31) earnings per share (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%. Research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analysts Set New Price Targets

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