Barclays PLC Has $2.14 Million Stock Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Barclays PLC lifted its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 126.8% in the 3rd quarter, Holdings Channel reports. The firm owned 37,130 shares of the company’s stock after buying an additional 20,759 shares during the quarter. Barclays PLC’s holdings in Praxis Precision Medicines were worth $2,136,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PRAX. CIBC Asset Management Inc boosted its position in Praxis Precision Medicines by 29.2% during the third quarter. CIBC Asset Management Inc now owns 248,939 shares of the company’s stock worth $14,324,000 after purchasing an additional 56,272 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Praxis Precision Medicines by 369.4% in the third quarter. BNP Paribas Financial Markets now owns 9,525 shares of the company’s stock worth $548,000 after buying an additional 7,496 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Praxis Precision Medicines by 523.2% during the 2nd quarter. Renaissance Technologies LLC now owns 75,433 shares of the company’s stock worth $3,120,000 after buying an additional 63,329 shares during the period. TD Asset Management Inc grew its stake in Praxis Precision Medicines by 46.6% in the 2nd quarter. TD Asset Management Inc now owns 51,312 shares of the company’s stock valued at $2,122,000 after buying an additional 16,312 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its holdings in Praxis Precision Medicines by 29.6% in the 3rd quarter. Moody Aldrich Partners LLC now owns 31,605 shares of the company’s stock worth $1,819,000 after acquiring an additional 7,224 shares during the period. 67.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Oppenheimer upped their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.33.

Insiders Place Their Bets

In other news, insider Lauren Mastrocola sold 5,188 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $81.78, for a total value of $424,274.64. Following the sale, the insider now owns 5,613 shares of the company’s stock, valued at approximately $459,031.14. This represents a 48.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Alex Nemiroff sold 8,239 shares of the stock in a transaction dated 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 owns 10,301 shares of the company’s stock, valued at $826,140.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Praxis Precision Medicines Trading Up 1.3 %

Shares of NASDAQ PRAX opened at $78.22 on Friday. Praxis Precision Medicines, Inc. has a one year low of $19.61 and a one year high of $86.93. The business has a fifty day simple moving average of $73.99 and a 200 day simple moving average of $60.43. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -7.59 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) EPS for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.74). The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.53 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. During the same period in the previous year, the business posted ($2.70) earnings per share. On average, research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current fiscal year.

Praxis Precision Medicines 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.