3,846 Shares in Praxis Precision Medicines, Inc. $PRAX Acquired by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,846 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently made changes to their positions in PRAX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Praxis Precision Medicines by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock worth $444,000 after purchasing an additional 573 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Praxis Precision Medicines by 367.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company’s stock worth $3,298,000 after buying an additional 68,466 shares in the last quarter. Aberdeen Group plc grew its holdings in Praxis Precision Medicines by 143.5% during the 2nd quarter. Aberdeen Group plc now owns 214,056 shares of the company’s stock worth $9,001,000 after acquiring an additional 126,153 shares in the last quarter. CWM LLC grew its stake in shares of Praxis Precision Medicines by 877.9% during the second quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after purchasing an additional 676 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Praxis Precision Medicines by 72.2% during the 2nd quarter. TD Asset Management Inc now owns 63,938 shares of the company’s stock worth $2,689,000 after acquiring an additional 26,800 shares in the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Analysts Set New Price Targets

PRAX has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $1,245.00 price target (up from $340.00) on shares of Praxis Precision Medicines in a research note on Friday. BTIG Research restated a “buy” rating and issued a $843.00 target price (up previously from $507.00) on shares of Praxis Precision Medicines in a report on Monday, December 29th. Guggenheim reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a research report on Monday, December 29th. Oppenheimer reiterated an “outperform” rating and set a $750.00 price target (up from $250.00) on shares of Praxis Precision Medicines in a research note on Monday, December 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $1,200.00 price objective (up previously from $450.00) on shares of Praxis Precision Medicines in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and an average target price of $547.00.

Praxis Precision Medicines Price Performance

PRAX stock opened at $314.00 on Friday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -24.34 and a beta of 2.85. The company has a fifty day moving average price of $269.81 and a 200 day moving average price of $150.64. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $326.91.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.45) by $0.09. As a group, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Insider Activity

In other Praxis Precision Medicines news, General Counsel Alex Nemiroff sold 25,130 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $193.09, for a total transaction of $4,852,351.70. Following the completion of the sale, the general counsel directly owned 20,832 shares of the company’s stock, valued at $4,022,450.88. This represents a 54.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lauren Mastrocola sold 13,600 shares of Praxis Precision Medicines stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $192.08, for a total value of $2,612,288.00. Following the completion of the transaction, the insider owned 10,442 shares in the company, valued at $2,005,699.36. This trade represents a 56.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.70% of the company’s stock.

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.