Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Stake Boosted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 565.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,873 shares of the company’s stock after acquiring an additional 4,990 shares during the period. Tower Research Capital LLC TRC’s holdings in Praxis Precision Medicines were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Praxis Precision Medicines by 126.8% during the 3rd quarter. Barclays PLC now owns 37,130 shares of the company’s stock worth $2,136,000 after purchasing an additional 20,759 shares in the last quarter. Franklin Resources Inc. increased its holdings in Praxis Precision Medicines by 85.6% in the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock worth $25,619,000 after buying an additional 205,335 shares during the last quarter. JPMorgan Chase & Co. raised its position in Praxis Precision Medicines by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company’s stock valued at $450,000 after acquiring an additional 448 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Praxis Precision Medicines by 5,437.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company’s stock valued at $43,027,000 after acquiring an additional 548,986 shares during the last quarter. Finally, Ellsworth Advisors LLC bought a new stake in Praxis Precision Medicines in the fourth quarter worth approximately $627,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. Truist Financial decreased their price target on Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wedbush downgraded Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday, April 8th. Finally, HC Wainwright dropped their price target on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

Praxis Precision Medicines Price Performance

NASDAQ:PRAX opened at $37.20 on Wednesday. Praxis Precision Medicines, Inc. has a one year low of $26.70 and a one year high of $91.83. The company has a fifty day moving average price of $38.53 and a 200 day moving average price of $62.76. The stock has a market cap of $750.06 million, a P/E ratio of -3.61 and a beta of 2.66.

Praxis Precision Medicines (NASDAQ:PRAX) last announced 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 net margin of 9,409.22% and a negative return on equity of 54.86%. The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.36 million. As a group, equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS 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.