Hussman Strategic Advisors Inc. Buys New Shares in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Hussman Strategic Advisors Inc. purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,000 shares of the company’s stock, valued at approximately $869,000. Hussman Strategic Advisors Inc. owned 0.12% of Praxis Precision Medicines at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in Praxis Precision Medicines in the second quarter valued at approximately $2,048,000. PCG Wealth Advisors LLC increased its position in shares of Praxis Precision Medicines by 35.0% in the 2nd quarter. PCG Wealth Advisors LLC now owns 17,441 shares of the company’s stock valued at $721,000 after purchasing an additional 4,524 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Praxis Precision Medicines during the 1st quarter worth $3,051,000. RA Capital Management L.P. purchased a new stake in shares of Praxis Precision Medicines during the 1st quarter worth $50,548,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Praxis Precision Medicines during the first quarter worth $18,878,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 0.2 %

PRAX stock traded up $0.11 on Friday, hitting $53.15. The company’s stock had a trading volume of 182,649 shares, compared to its average volume of 228,973. Praxis Precision Medicines, Inc. has a 1 year low of $13.01 and a 1 year high of $67.21. The firm has a 50 day moving average of $50.53 and a two-hundred day moving average of $49.44.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wedbush raised their price target on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. HC Wainwright upped their price target on Praxis Precision Medicines from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Piper Sandler reissued an “overweight” rating and set a $270.00 price objective on shares of Praxis Precision Medicines in a report on Monday, July 1st. Guggenheim upped their target price on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $134.00 target price on shares of Praxis Precision Medicines in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and an average price target of $142.44.

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.