HighVista Strategies LLC Has $5.04 Million Stock Position in Praxis Precision Medicines, Inc. $PRAX

HighVista Strategies LLC raised its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 41.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,002 shares of the company’s stock after acquiring an additional 27,714 shares during the quarter. Praxis Precision Medicines comprises approximately 1.2% of HighVista Strategies LLC’s investment portfolio, making the stock its 20th biggest holding. HighVista Strategies LLC owned approximately 0.38% of Praxis Precision Medicines worth $5,035,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRAX. Bank of America Corp DE raised its position in shares of Praxis Precision Medicines by 12.7% in the 3rd quarter. Bank of America Corp DE now owns 482,861 shares of the company’s stock valued at $25,592,000 after acquiring an additional 54,458 shares during the period. Algert Global LLC grew its holdings in Praxis Precision Medicines by 483.3% during the third quarter. Algert Global LLC now owns 160,818 shares of the company’s stock valued at $8,523,000 after purchasing an additional 133,248 shares during the period. Creative Planning grew its holdings in Praxis Precision Medicines by 2.5% during the third quarter. Creative Planning now owns 6,660 shares of the company’s stock valued at $353,000 after purchasing an additional 165 shares during the period. SummitTX Capital L.P. bought a new stake in Praxis Precision Medicines in the third quarter valued at approximately $1,851,000. Finally, Freestone Grove Partners LP bought a new stake in Praxis Precision Medicines in the third quarter valued at approximately $438,000. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Trading Down 3.1%

PRAX opened at $293.95 on Monday. The stock has a market capitalization of $8.19 billion, a P/E ratio of -21.84 and a beta of 2.86. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $356.00. The firm’s fifty day simple moving average is $312.65 and its 200 day simple moving average is $209.06.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.50). On average, equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Chardan Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $412.00 price objective on shares of Praxis Precision Medicines in a research note on Friday, February 20th. UBS Group set a $750.00 target price on Praxis Precision Medicines in a report on Monday, December 15th. Citigroup restated a “conviction-buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, December 30th. Finally, Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and an average target price of $576.12.

Praxis Precision Medicines Company Profile

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.