SG Americas Securities LLC Cuts Position in Praxis Precision Medicines, Inc. $PRAX

SG Americas Securities LLC lessened its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 26.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,965 shares of the company’s stock after selling 3,531 shares during the quarter. SG Americas Securities LLC’s holdings in Praxis Precision Medicines were worth $2,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Praxis Precision Medicines by 58.7% during the fourth quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after acquiring an additional 88 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Praxis Precision Medicines by 0.9% during the third quarter. Legal & General Group Plc now owns 16,824 shares of the company’s stock valued at $892,000 after buying an additional 154 shares during the last quarter. Creative Planning increased its holdings in shares of Praxis Precision Medicines by 2.5% in the third quarter. Creative Planning now owns 6,660 shares of the company’s stock worth $353,000 after buying an additional 165 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Praxis Precision Medicines by 24.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after buying an additional 359 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Praxis Precision Medicines by 6.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 6,425 shares of the company’s stock valued at $270,000 after acquiring an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock opened at $310.38 on Friday. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $356.00. The firm has a market cap of $8.64 billion, a P/E ratio of -23.06 and a beta of 2.94. The business’s 50 day moving average price is $313.85 and its 200-day moving average price is $233.69.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its earnings results on Thursday, February 19th. The company reported ($3.50) EPS for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.50). As a group, equities analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $750.00 target price (up from $250.00) on shares of Praxis Precision Medicines in a report on Monday, December 15th. Wells Fargo & Company set a $305.00 price objective on Praxis Precision Medicines and gave the company an “equal weight” rating in a research report on Friday, February 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Praxis Precision Medicines in a report on Monday, December 29th. Wedbush upped their price target on shares of Praxis Precision Medicines from $95.00 to $130.00 and gave the company an “underperform” rating in a report on Friday, February 20th. Finally, Guggenheim reissued a “buy” rating and set a $800.00 price target (up from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $576.12.

About Praxis Precision Medicines

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.