Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Insider Sells $424,274.64 in Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 5,188 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total transaction of $424,274.64. Following the completion of the sale, the insider now directly owns 5,613 shares of the company’s stock, valued at $459,031.14. This represents a 48.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Praxis Precision Medicines Price Performance

Shares of NASDAQ PRAX opened at $71.76 on Monday. Praxis Precision Medicines, Inc. has a 1 year low of $13.98 and a 1 year high of $86.93. The company’s 50-day moving average is $67.00 and its 200 day moving average is $55.01. The stock has a market capitalization of $1.34 billion, a P/E ratio of -6.97 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.74). The business had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.53 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. During the same quarter last year, the company posted ($2.70) EPS. Research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wedbush upped their price objective on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Oppenheimer upped their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Finally, Guggenheim upped their price objective on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.33.

Institutional Investors Weigh In On Praxis Precision Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD purchased a new stake in Praxis Precision Medicines in the first quarter worth about $32,707,000. Vanguard Group Inc. grew its holdings in Praxis Precision Medicines by 100.6% in the first quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after purchasing an additional 373,131 shares during the period. CIBC Asset Management Inc grew its holdings in Praxis Precision Medicines by 29.2% in the third quarter. CIBC Asset Management Inc now owns 248,939 shares of the company’s stock worth $14,324,000 after purchasing an additional 56,272 shares during the period. Renaissance Technologies LLC grew its holdings in Praxis Precision Medicines by 523.2% in the second quarter. Renaissance Technologies LLC now owns 75,433 shares of the company’s stock worth $3,120,000 after purchasing an additional 63,329 shares during the period. Finally, TD Asset Management Inc grew its holdings in Praxis Precision Medicines by 46.6% in the second quarter. TD Asset Management Inc now owns 51,312 shares of the company’s stock worth $2,122,000 after purchasing an additional 16,312 shares during the period. Hedge funds and other institutional investors own 67.84% of the company’s stock.

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.