2,193 Shares in Praxis Precision Medicines, Inc. $PRAX Purchased by Ethic Inc.

Ethic Inc. purchased a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,193 shares of the company’s stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. boosted its holdings in Praxis Precision Medicines by 8.2% during the fourth quarter. GF Fund Management CO. LTD. now owns 490 shares of the company’s stock worth $144,000 after purchasing an additional 37 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Praxis Precision Medicines by 58.7% during the fourth quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after purchasing an additional 88 shares during the last quarter. CWM LLC boosted its holdings in Praxis Precision Medicines by 15.5% during the fourth quarter. CWM LLC now owns 874 shares of the company’s stock worth $258,000 after purchasing an additional 117 shares during the last quarter. NBC Securities Inc. purchased a new position in Praxis Precision Medicines during the fourth quarter worth about $38,000. Finally, Farther Finance Advisors LLC boosted its holdings in Praxis Precision Medicines by 60.0% during the fourth quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock worth $108,000 after purchasing an additional 138 shares during the last quarter. 67.84% of the stock is currently owned by hedge funds and other institutional investors.

Praxis Precision Medicines Trading Down 0.9%

Shares of NASDAQ:PRAX opened at $342.58 on Friday. The company has a 50 day moving average of $318.60 and a 200 day moving average of $283.57. The stock has a market cap of $9.55 billion, a P/E ratio of -25.62 and a beta of 2.76. Praxis Precision Medicines, Inc. has a 12 month low of $35.21 and a 12 month high of $358.76.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, beating the consensus estimate of ($3.58) by $0.38. On average, equities analysts forecast that Praxis Precision Medicines, Inc. will post -14.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on PRAX. Wedbush lifted their price objective on shares of Praxis Precision Medicines from $130.00 to $166.00 and gave the stock an “underperform” rating in a research report on Friday, May 8th. Guggenheim reaffirmed a “buy” rating and issued a $800.00 price objective (up from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. BTIG Research reaffirmed a “buy” rating and issued a $843.00 price objective on shares of Praxis Precision Medicines in a research report on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $1,245.00 price objective on shares of Praxis Precision Medicines in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.67.

Praxis Precision Medicines 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.