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

Swiss National Bank boosted its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 15.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,700 shares of the company’s stock after purchasing an additional 6,200 shares during the quarter. Swiss National Bank owned about 0.17% of Praxis Precision Medicines worth $15,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orbis Allan Gray Ltd purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $369,946,000. Janus Henderson Group PLC increased its position in Praxis Precision Medicines by 17.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,240,086 shares of the company’s stock valued at $954,834,000 after buying an additional 476,227 shares in the last quarter. Barclays PLC increased its position in Praxis Precision Medicines by 592.6% during the 4th quarter. Barclays PLC now owns 530,751 shares of the company’s stock valued at $156,434,000 after buying an additional 454,114 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Praxis Precision Medicines by 63.4% during the fourth quarter. Baker BROS. Advisors LP now owns 1,126,488 shares of the company’s stock valued at $332,021,000 after buying an additional 437,000 shares during the last quarter. Finally, Perceptive Advisors LLC raised its stake in Praxis Precision Medicines by 27.6% during the fourth quarter. Perceptive Advisors LLC now owns 1,995,986 shares of the company’s stock valued at $588,297,000 after buying an additional 431,432 shares during the last quarter. Institutional investors own 67.84% of the company’s stock.

Analyst Upgrades and Downgrades

PRAX has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating on shares of Praxis Precision Medicines in a research note on Monday, July 13th. Royal Bank Of Canada initiated coverage on Praxis Precision Medicines in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $449.00 price target for the company. HC Wainwright dropped their price target on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Robert W. Baird cut their price objective on shares of Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $374.00 price objective (down from $420.00) on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Four research 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 data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.

Insider Transactions at Praxis Precision Medicines

In other news, Director Jill Desimone sold 11,600 shares of the firm’s stock in a transaction dated 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 sale, the director owned 2,337 shares of the company’s stock, valued at $727,554.84. This trade represents a 83.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.00% of the company’s stock.

Praxis Precision Medicines Price Performance

PRAX stock opened at $325.30 on Friday. The stock has a market capitalization of $9.07 billion, a P/E 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 business has a fifty day moving average price of $308.80 and a 200-day moving average price of $313.77.

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

About Praxis Precision Medicines

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.