Praxis Precision Medicines, Inc. (NASDAQ:PRAX) General Counsel Alex Nemiroff Sells 8,239 Shares

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) General Counsel Alex Nemiroff sold 8,239 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the transaction, the general counsel now owns 10,301 shares in the company, valued at $826,140.20. This represents a 44.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Praxis Precision Medicines Stock Down 6.7 %

Shares of PRAX traded down $5.12 during mid-day trading on Friday, hitting $71.76. 551,065 shares of the company’s stock were exchanged, compared to its average volume of 282,749. The firm has a fifty day moving average of $66.65 and a two-hundred day moving average of $54.91. Praxis Precision Medicines, Inc. has a twelve month low of $13.98 and a twelve month high of $86.93. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -6.87 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted ($2.70) earnings per share. On average, equities analysts predict that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PRAX. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Guggenheim boosted their target price on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Oppenheimer boosted 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 report on Thursday, October 31st. Wedbush boosted 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 report on Wednesday, August 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $146.33.

Institutional Trading of Praxis Precision Medicines

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its holdings in Praxis Precision Medicines by 10.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company’s stock valued at $43,498,000 after purchasing an additional 97,561 shares during the period. RA Capital Management L.P. bought a new position in shares of Praxis Precision Medicines during the 1st quarter worth about $50,548,000. Vanguard Group Inc. lifted its holdings in shares of Praxis Precision Medicines by 100.6% during the 1st quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after acquiring an additional 373,131 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Praxis Precision Medicines during the 1st quarter worth about $32,707,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Praxis Precision Medicines by 37.2% during the 3rd quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock worth $30,079,000 after acquiring an additional 141,881 shares during the period. 67.84% of the stock is owned by institutional investors.

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.