10,951 Shares in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Purchased by HighVista Strategies LLC

HighVista Strategies LLC purchased a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,951 shares of the company’s stock, valued at approximately $630,000.

Several other institutional investors have also recently made changes to their positions in PRAX. Amalgamated Bank acquired a new stake in shares of Praxis Precision Medicines in the 2nd quarter valued at approximately $25,000. US Bancorp DE raised its position in Praxis Precision Medicines by 35.9% during the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after acquiring an additional 605 shares in the last quarter. Quarry LP acquired a new stake in Praxis Precision Medicines in the second quarter valued at $83,000. Intech Investment Management LLC bought a new position in shares of Praxis Precision Medicines in the 3rd quarter valued at about $217,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Praxis Precision Medicines in the 3rd quarter valued at about $231,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Insider Activity at Praxis Precision Medicines

In other news, insider Lauren Mastrocola sold 5,188 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $81.78, for a total value of $424,274.64. Following the completion of the transaction, the insider now directly owns 5,613 shares in the company, valued at approximately $459,031.14. The trade was a 48.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the sale, the general counsel now directly owns 10,301 shares of the company’s stock, valued at approximately $826,140.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Praxis Precision Medicines Stock Performance

Shares of NASDAQ:PRAX opened at $77.86 on Tuesday. The company’s 50 day moving average price is $70.29 and its two-hundred day moving average price is $56.84. Praxis Precision Medicines, Inc. has a 12-month low of $14.77 and a 12-month high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same period in the prior year, the firm earned ($2.70) earnings per share. As a group, sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $151.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Wedbush lifted their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Finally, Guggenheim lifted their price objective on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.33.

Praxis Precision Medicines Company Profile

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.