Ishara Investments LP Takes $11.79 Million Position in Praxis Precision Medicines, Inc. $PRAX

Ishara Investments LP acquired a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $11,790,000. Praxis Precision Medicines makes up about 13.6% of Ishara Investments LP’s investment portfolio, making the stock its biggest holding. Ishara Investments LP owned approximately 0.16% of Praxis Precision Medicines as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRAX. NBC Securities Inc. bought a new position in Praxis Precision Medicines in the fourth quarter worth approximately $38,000. Danske Bank A S bought a new position in Praxis Precision Medicines in the fourth quarter worth approximately $59,000. GAMMA Investing LLC grew its stake 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 in the last quarter. Tower Research Capital LLC TRC grew its stake 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 in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Praxis Precision Medicines by 60.0% in 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 in the last quarter. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 5.0%

Praxis Precision Medicines stock opened at $270.01 on Thursday. The business has a fifty day moving average of $316.54 and a two-hundred day moving average of $302.97. The firm has a market cap of $7.53 billion, a P/E ratio of -20.20 and a beta of 2.71. Praxis Precision Medicines, Inc. has a twelve month low of $37.19 and a twelve month high of $366.52.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.58) by $0.38. Equities analysts expect that Praxis Precision Medicines, Inc. will post -14.79 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on PRAX shares. BTIG Research reissued a “buy” rating and issued a $810.00 price objective (down from $843.00) on shares of Praxis Precision Medicines in a research note on Tuesday, June 2nd. Raymond James Financial started coverage on Praxis Precision Medicines in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $815.00 price objective on the stock. Wolfe Research started coverage on Praxis Precision Medicines in a research note on Monday, February 23rd. They issued an “outperform” rating and a $500.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and issued a $650.00 price objective (down from $750.00) on shares of Praxis Precision Medicines in a research note on Tuesday, June 2nd. Finally, Truist Financial set a $616.00 price objective on Praxis Precision Medicines and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $566.21.

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.