Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 27.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 117,970 shares of the company’s stock after selling 44,061 shares during the quarter. Candriam S.C.A.’s holdings in Praxis Precision Medicines were worth $9,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Praxis Precision Medicines during the fourth quarter worth $48,000. US Bancorp DE grew its stake in shares of Praxis Precision Medicines by 35.9% during the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after purchasing an additional 605 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Praxis Precision Medicines during the third quarter worth $217,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Praxis Precision Medicines during the third quarter worth $231,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of Praxis Precision Medicines during the third quarter worth $240,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 1.7 %

PRAX stock opened at $38.50 on Friday. The firm has a 50 day moving average of $72.93 and a 200-day moving average of $69.09. Praxis Precision Medicines, Inc. has a 12-month low of $30.01 and a 12-month high of $91.83. The company has a market cap of $776.28 million, a price-to-earnings ratio of -3.74 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.76) by ($0.18). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.36 million. Sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Needham & Company LLC lowered their target price on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial dropped their price objective on Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective on the stock. HC Wainwright dropped their price objective on Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Wedbush lowered Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

About Praxis Precision Medicines

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.