Swiss National Bank Purchases 6,200 Shares of Praxis Precision Medicines, Inc. $PRAX

Swiss National Bank grew its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 15.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,700 shares of the company’s stock after buying an additional 6,200 shares during the quarter. Swiss National Bank’s holdings in Praxis Precision Medicines were worth $15,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GF Fund Management CO. LTD. grew its holdings in shares of Praxis Precision Medicines by 8.2% in the fourth quarter. GF Fund Management CO. LTD. now owns 490 shares of the company’s stock worth $144,000 after acquiring an additional 37 shares during the period. GAMMA Investing LLC lifted 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 valued at $70,000 after acquiring an additional 88 shares during the period. CWM LLC boosted its position in Praxis Precision Medicines by 15.5% in the fourth quarter. CWM LLC now owns 874 shares of the company’s stock worth $258,000 after purchasing an additional 117 shares during the last quarter. NBC Securities Inc. purchased a new position in Praxis Precision Medicines in the fourth quarter worth about $38,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Praxis Precision Medicines by 60.0% during the 4th quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock valued at $108,000 after purchasing an additional 138 shares during the period. 67.84% of the stock is currently owned by hedge funds and other institutional investors.

Praxis Precision Medicines Price Performance

NASDAQ:PRAX opened at $325.30 on Friday. The company has a market cap of $9.07 billion, a price-to-earnings ratio of -24.33 and a beta of 2.74. Praxis Precision Medicines, Inc. has a 1 year low of $37.19 and a 1 year high of $366.52. The stock’s 50 day simple moving average is $308.80 and its two-hundred day simple moving average is $313.77.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, beating analysts’ consensus estimates of ($3.58) by $0.38. As a group, analysts anticipate that Praxis Precision Medicines, Inc. will post -14.82 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James Financial initiated coverage on shares of Praxis Precision Medicines in a research report on Friday, April 10th. They set a “strong-buy” rating and a $815.00 price target for the company. Needham & Company LLC raised their price objective on shares of Praxis Precision Medicines from $537.00 to $575.00 and gave the stock a “buy” rating in a report on Monday, June 29th. TD Cowen restated a “buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Wedbush reduced their target price on shares of Praxis Precision Medicines from $166.00 to $162.00 and set an “underperform” rating for the company in a report on Tuesday, June 2nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $810.00 target price (down from $843.00) on shares of Praxis Precision Medicines in a report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $563.50.

Insider Transactions at Praxis Precision Medicines

In other Praxis Precision Medicines news, Director Jill Desimone sold 11,600 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $311.32, for a total transaction of $3,611,312.00. Following the completion of the transaction, the director owned 2,337 shares in the company, valued at $727,554.84. This trade represents a 83.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is currently owned by insiders.

Praxis Precision Medicines 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.