Hussman Strategic Advisors Inc. Has $808,000 Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Hussman Strategic Advisors Inc. cut its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 50.0% in the fourth quarter, HoldingsChannel reports. The fund owned 10,500 shares of the company’s stock after selling 10,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Praxis Precision Medicines were worth $808,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Praxis Precision Medicines during the 4th quarter worth about $48,000. US Bancorp DE boosted its position in Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after acquiring an additional 605 shares during the period. Intech Investment Management LLC acquired a new stake in Praxis Precision Medicines during the 3rd quarter worth about $217,000. China Universal Asset Management Co. Ltd. acquired a new stake in Praxis Precision Medicines during the 4th quarter worth about $304,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Praxis Precision Medicines during the 3rd quarter worth about $231,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock opened at $79.54 on Friday. The stock’s 50 day simple moving average is $77.33 and its 200 day simple moving average is $69.10. Praxis Precision Medicines, Inc. has a twelve month low of $33.01 and a twelve month high of $91.83. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.72 and a beta of 2.65.

Wall Street Analysts Forecast Growth

PRAX has been the subject of a number of recent research reports. Truist Financial raised their price target on Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Praxis Precision Medicines in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a “buy” rating and a $111.00 price target for the company. Oppenheimer raised their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.20.

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.