CenterBook Partners LP Buys 38,537 Shares of Praxis Precision Medicines, Inc. $PRAX

CenterBook Partners LP bought a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 38,537 shares of the company’s stock, valued at approximately $11,223,000. CenterBook Partners LP owned approximately 0.14% of Praxis Precision Medicines at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Praxis Precision Medicines by 6.8% during the first quarter. Janus Henderson Group PLC now owns 3,458,863 shares of the company’s stock worth $1,113,514,000 after buying an additional 218,777 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Praxis Precision Medicines in the second quarter valued at approximately $28,583,000. Orbimed Advisors LLC raised its holdings in Praxis Precision Medicines by 82.5% in the first quarter. Orbimed Advisors LLC now owns 172,500 shares of the company’s stock valued at $55,578,000 after acquiring an additional 78,000 shares in the last quarter. California Public Employees Retirement System purchased a new position in Praxis Precision Medicines in the first quarter worth approximately $13,584,000. Finally, Perceptive Advisors LLC lifted its stake in Praxis Precision Medicines by 2.0% in the first quarter. Perceptive Advisors LLC now owns 2,035,986 shares of the company’s stock worth $655,974,000 after acquiring an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

Shares of PRAX traded up $15.03 during midday trading on Friday, reaching $277.62. 310,180 shares of the stock were exchanged, compared to its average volume of 517,080. Praxis Precision Medicines, Inc. has a twelve month low of $159.74 and a twelve month high of $392.70. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of -21.47 and a beta of 2.85. The business’s 50-day moving average price is $291.73 and its 200 day moving average price is $313.72.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($2.87) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.67) by $0.80. As a group, equities research analysts expect that Praxis Precision Medicines, Inc. will post -14.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRAX has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $575.00 price objective (up from $470.00) on shares of Praxis Precision Medicines in a research report on Friday, August 21st. Robert W. Baird set a $514.00 price target on Praxis Precision Medicines in a research note on Friday, August 7th. Wall Street Zen downgraded Praxis Precision Medicines from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $945.00 price objective on shares of Praxis Precision Medicines in a research report on Monday, August 17th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Praxis Precision Medicines in a report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $630.42.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for disorders of the central nervous system. The company applies its Cerebrum™ platform, which combines human genetics, neuroscience and data science, to identify disease mechanisms and advance precision medicines for patients with neurological and psychiatric conditions.

Its pipeline has included investigational treatments for epilepsy and other severe neurological disorders. Key programs have included PRAX-628, a small-molecule antiseizure medicine candidate, and elsunersen, an antisense oligonucleotide program being developed for certain genetically defined forms of epilepsy.