Praxis Precision Medicines, Inc. $PRAX Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 3.0% in the 3rd quarter, Holdings Channel reports. The fund owned 282,975 shares of the company’s stock after selling 8,714 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Praxis Precision Medicines were worth $82,169,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CenterBook Partners LP acquired a new stake in shares of Praxis Precision Medicines during the 3rd quarter worth approximately $11,223,000. Provenance Wealth Advisors LLC acquired a new position in Praxis Precision Medicines in the third quarter valued at approximately $128,000. Factory Mutual Insurance Co. acquired a new position in Praxis Precision Medicines in the third quarter valued at approximately $297,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Praxis Precision Medicines in the third quarter worth approximately $296,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Praxis Precision Medicines in the third quarter worth approximately $1,223,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock opened at $332.97 on Tuesday. The firm’s 50 day moving average price is $291.50 and its 200-day moving average price is $313.82. Praxis Precision Medicines, Inc. has a one year low of $160.11 and a one year high of $392.70. The firm has a market cap of $9.30 billion, a P/E ratio of -25.75 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Monday, November 9th. The company reported ($3.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.54) by $0.31. As a group, research analysts predict that Praxis Precision Medicines, Inc. will post -14.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $1,201.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, October 15th. Wall Street Zen lowered Praxis Precision Medicines from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. BTIG Research reiterated a “buy” rating and set a $826.00 price target on shares of Praxis Precision Medicines in a report on Monday. JPMorgan Chase & Co. initiated coverage on Praxis Precision Medicines in a research report on Friday, October 16th. They set an “overweight” rating and a $700.00 price objective for the company. Finally, Robert W. Baird set a $514.00 price objective on shares of Praxis Precision Medicines in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $630.42.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity.

Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions.