Fox Run Management L.L.C. Buys New Stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Fox Run Management L.L.C. bought a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,195 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Praxis Precision Medicines during the third quarter valued at about $217,000. Charles Schwab Investment Management Inc. raised its position in shares of Praxis Precision Medicines by 188.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 137,052 shares of the company’s stock worth $7,886,000 after buying an additional 89,578 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Praxis Precision Medicines by 369.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,525 shares of the company’s stock worth $548,000 after acquiring an additional 7,496 shares during the period. Glenmede Trust Co. NA bought a new position in shares of Praxis Precision Medicines in the third quarter valued at approximately $240,000. Finally, MetLife Investment Management LLC increased its stake in shares of Praxis Precision Medicines by 129.1% during the third quarter. MetLife Investment Management LLC now owns 10,131 shares of the company’s stock valued at $583,000 after acquiring an additional 5,708 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PRAX. Truist Financial cut their target price on Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. Wedbush lowered Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a report on Friday, February 28th. Robert W. Baird cut their price target on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, HC Wainwright lowered their price objective on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

Praxis Precision Medicines Price Performance

Shares of PRAX opened at $38.85 on Friday. The company has a 50-day moving average of $62.18 and a two-hundred day moving average of $67.45. The stock has a market cap of $783.33 million, a price-to-earnings ratio of -3.77 and a beta of 2.76. Praxis Precision Medicines, Inc. has a one year low of $30.01 and a one year high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Friday, February 28th. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The firm had revenue of $7.48 million during the quarter, compared to analyst estimates of $0.36 million. Analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.