Capital Fund Management S.A. Takes Position in Praxis Precision Medicines, Inc. $PRAX

Capital Fund Management S.A. acquired a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 24,292 shares of the company’s stock, valued at approximately $1,021,000. Capital Fund Management S.A. owned 0.12% of Praxis Precision Medicines as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cormorant Asset Management LP increased its stake in shares of Praxis Precision Medicines by 3.1% in the first quarter. Cormorant Asset Management LP now owns 1,745,000 shares of the company’s stock valued at $66,083,000 after purchasing an additional 51,781 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Praxis Precision Medicines by 188.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,742,758 shares of the company’s stock worth $65,998,000 after buying an additional 1,137,748 shares in the last quarter. Vanguard Group Inc. increased its position 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. Assenagon Asset Management S.A. raised its stake in Praxis Precision Medicines by 19.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 604,298 shares of the company’s stock valued at $25,411,000 after acquiring an additional 96,898 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in Praxis Precision Medicines by 192.0% during the 1st quarter. Driehaus Capital Management LLC now owns 481,598 shares of the company’s stock valued at $18,238,000 after acquiring an additional 316,686 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Trading Up 30.5%

NASDAQ:PRAX opened at $247.99 on Friday. The company has a 50-day moving average of $150.61 and a 200-day moving average of $82.42. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -19.22 and a beta of 2.95. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $277.44.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Wednesday, November 5th. The company reported ($3.36) EPS for the quarter, beating the consensus estimate of ($3.45) by $0.09. On average, research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Lauren Mastrocola sold 13,600 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $192.08, for a total transaction of $2,612,288.00. Following the completion of the sale, the insider directly owned 10,442 shares of the company’s stock, valued at $2,005,699.36. This trade represents a 56.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Alex Nemiroff sold 25,130 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $193.09, for a total value of $4,852,351.70. Following the sale, the general counsel directly owned 20,832 shares in the company, valued at $4,022,450.88. This trade represents a 54.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial reissued a “buy” rating and set a $360.00 price target (up from $85.00) on shares of Praxis Precision Medicines in a report on Friday, October 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Praxis Precision Medicines in a research note on Monday. BTIG Research restated a “buy” rating and set a $499.00 price target on shares of Praxis Precision Medicines in a research report on Friday. HC Wainwright reiterated a “buy” rating and issued a $340.00 price objective (up from $258.00) on shares of Praxis Precision Medicines in a report on Friday. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price objective (up previously from $65.00) on shares of Praxis Precision Medicines in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.77.

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.