Insider Selling: Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Insider Sells 5,188 Shares of Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 5,188 shares of the stock in a transaction 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. This represents a 48.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Praxis Precision Medicines Stock Performance

PRAX stock opened at $71.76 on Friday. The firm’s 50-day moving average price is $67.00 and its two-hundred day moving average price is $55.01. Praxis Precision Medicines, Inc. has a 12-month low of $13.98 and a 12-month high of $86.93.

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

Hedge Funds Weigh In On Praxis Precision Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. increased its position in Praxis Precision Medicines by 10.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company’s stock valued at $43,498,000 after purchasing an additional 97,561 shares during the period. RA Capital Management L.P. purchased a new position in shares of Praxis Precision Medicines during the first quarter valued at about $50,548,000. Vanguard Group Inc. raised its stake in Praxis Precision Medicines by 100.6% in the first quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after buying an additional 373,131 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Praxis Precision Medicines in the first quarter worth about $32,707,000. Finally, Janus Henderson Group PLC boosted its position in Praxis Precision Medicines by 37.2% during the 3rd quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock valued at $30,079,000 after acquiring an additional 141,881 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Analysts Set New Price Targets

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

About Praxis Precision Medicines

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.