Praxis Precision Medicines (NASDAQ:PRAX) Insider Sells $2,612,288.00 in Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 13,600 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $192.08, for a total transaction of $2,612,288.00. Following the sale, the insider directly owned 10,442 shares of the company’s stock, valued at approximately $2,005,699.36. This trade represents a 56.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Praxis Precision Medicines Price Performance

Shares of PRAX stock traded up $5.71 during mid-day trading on Friday, hitting $169.80. The company had a trading volume of 1,740,724 shares, compared to its average volume of 815,940. The stock’s 50 day moving average price is $121.11 and its 200-day moving average price is $71.57. Praxis Precision Medicines, Inc. has a 52-week low of $26.70 and a 52-week high of $206.71. The company has a market capitalization of $4.25 billion, a P/E ratio of -13.16 and a beta of 2.82.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.45) by $0.09. On average, equities research analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Praxis Precision Medicines by 88.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock worth $26,000 after purchasing an additional 295 shares during the period. CWM LLC raised its holdings in Praxis Precision Medicines by 877.9% during the 2nd quarter. CWM LLC now owns 753 shares of the company’s stock valued at $32,000 after buying an additional 676 shares during the period. Tower Research Capital LLC TRC lifted its position 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 buying an additional 359 shares during the last quarter. AlphaQuest LLC lifted its position in Praxis Precision Medicines by 1,623.3% in the third quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock worth $106,000 after buying an additional 1,883 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in Praxis Precision Medicines during the third quarter worth $203,000. 67.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Guggenheim reaffirmed a “buy” rating and issued a $540.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 6th. BTIG Research set a $424.00 price target on Praxis Precision Medicines and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price objective (up previously from $65.00) on shares of Praxis Precision Medicines in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Praxis Precision Medicines in a report on Wednesday. Finally, Chardan Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $257.50.

About Praxis Precision Medicines

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.