Praxis Precision Medicines, Inc. $PRAX Shares Sold by B Group Inc.

B Group Inc. trimmed its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,500 shares of the company’s stock after selling 3,500 shares during the quarter. Praxis Precision Medicines comprises approximately 1.3% of B Group Inc.’s portfolio, making the stock its 12th largest holding. B Group Inc. owned approximately 0.13% of Praxis Precision Medicines worth $1,670,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Praxis Precision Medicines by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock valued at $444,000 after buying an additional 573 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Praxis Precision Medicines by 367.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company’s stock worth $3,298,000 after purchasing an additional 68,466 shares during the period. Geode Capital Management LLC boosted its holdings in Praxis Precision Medicines by 8.1% in the 2nd quarter. Geode Capital Management LLC now owns 451,731 shares of the company’s stock valued at $18,997,000 after purchasing an additional 33,715 shares during the last quarter. Creative Planning purchased a new stake in shares of Praxis Precision Medicines in the 2nd quarter valued at approximately $273,000. Finally, Swiss National Bank increased its holdings in shares of Praxis Precision Medicines by 13.7% during the 2nd quarter. Swiss National Bank now owns 30,800 shares of the company’s stock worth $1,295,000 after buying an additional 3,700 shares during the last quarter. 67.84% of the stock is currently owned by hedge funds and other institutional investors.

Praxis Precision Medicines Trading Down 3.1%

Shares of NASDAQ:PRAX opened at $293.95 on Friday. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $356.00. The company’s 50 day moving average is $312.65 and its two-hundred day moving average is $206.81. The company has a market cap of $8.19 billion, a PE ratio of -21.84 and a beta of 2.86.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Thursday, February 19th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.00) by ($0.50). As a group, equities research analysts expect that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PRAX. BTIG Research reiterated a “buy” rating on shares of Praxis Precision Medicines in a report on Monday. HC Wainwright reiterated a “buy” rating and set a $1,245.00 price target (up from $340.00) on shares of Praxis Precision Medicines in a report on Friday, January 30th. Guggenheim reissued a “buy” rating and set a $800.00 price objective (up from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $450.00 target price (up from $300.00) on shares of Praxis Precision Medicines in a research report on Tuesday, December 9th. Finally, Wells Fargo & Company set a $305.00 target price on shares of Praxis Precision Medicines and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $576.12.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.