Praxis Precision Medicines, Inc. $PRAX Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 36.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,884 shares of the company’s stock after selling 23,054 shares during the period. TD Asset Management Inc owned 0.16% of Praxis Precision Medicines worth $2,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Praxis Precision Medicines by 88.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock valued at $26,000 after buying an additional 295 shares during the last quarter. CWM LLC grew its holdings in shares of Praxis Precision Medicines by 877.9% during the second quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after buying an additional 676 shares in the last quarter. Tower Research Capital LLC TRC grew its position 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 valued at $77,000 after purchasing an additional 359 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Praxis Precision Medicines by 1,623.3% in the 3rd quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock worth $106,000 after acquiring an additional 1,883 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Praxis Precision Medicines during the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Performance

Shares of PRAX opened at $325.11 on Thursday. The company has a 50-day simple moving average of $310.44 and a 200-day simple moving average of $195.29. The firm has a market capitalization of $9.05 billion, a P/E ratio of -24.15 and a beta of 2.86. Praxis Precision Medicines, Inc. has a 52 week low of $26.70 and a 52 week high of $356.00.

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

Analysts Set New Price Targets

PRAX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Praxis Precision Medicines in a research note on Monday, December 29th. UBS Group set a $750.00 price objective on shares of Praxis Precision Medicines in a research note on Monday, December 15th. Chardan Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a research note on Wednesday, November 19th. Jefferies Financial Group reissued a “buy” rating and issued a $450.00 target price (up from $300.00) on shares of Praxis Precision Medicines in a research note on Tuesday, December 9th. Finally, Guggenheim reiterated a “buy” rating and set a $800.00 target price (up from $760.00) on shares of Praxis Precision Medicines in a research note on Tuesday, February 10th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $576.12.

Praxis Precision Medicines Company Profile

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.