2,082 Shares in Praxis Precision Medicines, Inc. $PRAX Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,082 shares of the company’s stock, valued at approximately $614,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Praxis Precision Medicines by 13.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock worth $83,031,000 after buying an additional 231,827 shares in the last quarter. Vanguard Group Inc. increased its holdings in Praxis Precision Medicines by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 1,460,933 shares of the company’s stock valued at $430,595,000 after acquiring an additional 193,647 shares during the last quarter. Deerfield Management Company L.P. lifted its stake in Praxis Precision Medicines by 22.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 840,851 shares of the company’s stock worth $44,565,000 after purchasing an additional 153,920 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Praxis Precision Medicines by 20.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 716,184 shares of the company’s stock worth $211,088,000 after purchasing an additional 123,163 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Praxis Precision Medicines by 23.1% during the 4th quarter. Geode Capital Management LLC now owns 562,379 shares of the company’s stock valued at $165,783,000 after purchasing an additional 105,347 shares during the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Praxis Precision Medicines

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: LifeSci Capital reportedly rated Praxis Precision Medicines a Buy, adding to the bullish analyst backdrop. Praxis Precision Medicines (PRAX) Receives a Buy from LifeSci Capital
• Positive Sentiment: Praxis will present a corporate overview at Goldman Sachs’ Global Healthcare Conference, which may help management reinforce the investment thesis and outline pipeline plans. Praxis Precision Medicines to Participate in Goldmans Sachs 47th Annual Global Healthcare Conference
• Neutral Sentiment: HC Wainwright maintained a Buy rating but slightly reduced FY2028–FY2030 EPS estimates, signaling continued optimism with somewhat lower long-term expectations. Praxis Precision Medicines stock report
• Negative Sentiment: Coverage says Praxis paused its seizure program after a Phase 2 failure, a meaningful clinical setback that likely drove the stock lower. Praxis pauses one of its seizure programs after phase 2 fail

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $810.00 target price (down from $843.00) on shares of Praxis Precision Medicines in a report on Tuesday. Jefferies Financial Group reissued a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, May 7th. HC Wainwright cut their price target on Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a report on Tuesday. Oppenheimer reaffirmed 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. Finally, Wolfe Research began coverage on Praxis Precision Medicines in a research report on Monday, February 23rd. They set an “outperform” rating and a $500.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Praxis Precision Medicines has an average rating of “Moderate Buy” and a consensus target price of $572.72.

Praxis Precision Medicines Stock Performance

NASDAQ:PRAX opened at $264.75 on Friday. The stock’s fifty day moving average is $325.52 and its 200 day moving average is $298.41. Praxis Precision Medicines, Inc. has a fifty-two week low of $37.19 and a fifty-two week high of $366.52. The firm has a market capitalization of $7.38 billion, a PE ratio of -19.80 and a beta of 2.71.

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

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.