Geode Capital Management LLC Grows Stake in Praxis Precision Medicines, Inc. $PRAX

Geode Capital Management LLC grew its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 23.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 562,379 shares of the company’s stock after purchasing an additional 105,347 shares during the period. Geode Capital Management LLC’s holdings in Praxis Precision Medicines were worth $165,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. purchased a new position in Praxis Precision Medicines in the fourth quarter worth $38,000. Danske Bank A S purchased a new position in Praxis Precision Medicines in the fourth quarter worth $59,000. GAMMA Investing LLC grew its holdings in Praxis Precision Medicines by 58.7% in 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. Tower Research Capital LLC TRC grew its holdings in 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 worth $77,000 after purchasing an additional 359 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Praxis Precision Medicines by 1,623.3% in the third quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock worth $106,000 after purchasing an additional 1,883 shares during the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PRAX shares. Raymond James Financial initiated coverage on shares of Praxis Precision Medicines in a report on Friday, April 10th. They issued a “strong-buy” rating and a $815.00 price target on the stock. Robert W. Baird lowered their price objective on shares of Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating for the company in a research note on Tuesday. Wolfe Research initiated coverage on shares of Praxis Precision Medicines in a research note on Monday, February 23rd. They set an “outperform” rating and a $500.00 price objective for the company. Wells Fargo & Company set a $305.00 price objective on shares of Praxis Precision Medicines and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Finally, HC Wainwright lowered their price objective on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $572.72.

Praxis Precision Medicines News Roundup

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: HC Wainwright reiterated a Buy rating on Praxis Precision Medicines and only slightly lowered its FY2030 EPS estimate and price target, signaling continued long-term optimism despite near-term volatility. HC Wainwright estimate cut and price target on PRAX
• Positive Sentiment: Several analysts still see substantial upside, with recent reports from Robert W. Baird and HC Wainwright maintaining constructive views on the stock. Analyst updates on PRAX
• Neutral Sentiment: Praxis announced small inducement stock grants to attract new employees, a routine corporate action with limited immediate impact on the share price. Inducement grants announcement
• Negative Sentiment: Praxis paused one of its seizure programs after its Phase 2/3 POWER1 study of vormatrigine missed the primary endpoint, raising concerns about the company’s epilepsy pipeline and execution risk. Vormatrigine trial setback
• Negative Sentiment: The trial failure triggered sharp negative press coverage and an after-hours selloff, suggesting investors are reassessing the value of the company’s seizure franchise. MarketWatch report on PRAX trial failure

Praxis Precision Medicines Trading Up 8.1%

NASDAQ:PRAX opened at $278.93 on Thursday. Praxis Precision Medicines, Inc. has a 12 month low of $37.19 and a 12 month high of $366.52. The firm has a fifty day simple moving average of $326.12 and a 200-day simple moving average of $297.85. The company has a market capitalization of $7.78 billion, a P/E ratio of -20.86 and a beta of 2.71.

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

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.