38,537 Shares of Praxis Precision Medicines, Inc. $PRAX Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 38,537 shares of the company’s stock, valued at approximately $11,223,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC acquired a new stake in Praxis Precision Medicines during the 3rd quarter worth approximately $128,000. Factory Mutual Insurance Co. acquired a new position in shares of Praxis Precision Medicines in the third quarter valued at approximately $297,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Praxis Precision Medicines during the third quarter worth approximately $296,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Praxis Precision Medicines during the third quarter worth approximately $1,223,000. Finally, Profund Advisors LLC raised its stake in shares of Praxis Precision Medicines by 10.9% during the third quarter. Profund Advisors LLC now owns 6,764 shares of the company’s stock worth $1,970,000 after purchasing an additional 667 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Performance

Praxis Precision Medicines stock traded up $15.03 during midday trading on Friday, reaching $277.62. The company’s stock had a trading volume of 310,180 shares, compared to its average volume of 517,080. Praxis Precision Medicines, Inc. has a fifty-two week low of $159.74 and a fifty-two week high of $392.70. The stock’s 50 day simple moving average is $291.73 and its 200 day simple moving average is $313.72. The firm has a market capitalization of $7.75 billion, a PE ratio of -21.47 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($2.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.67) by $0.80. Equities analysts predict that Praxis Precision Medicines, Inc. will post -14.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRAX shares. Piper Sandler reaffirmed an “overweight” rating on shares of Praxis Precision Medicines in a report on Monday, July 13th. BTIG Research upped their price objective on shares of Praxis Precision Medicines from $810.00 to $826.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Wall Street Zen cut shares of Praxis Precision Medicines from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Robert W. Baird set a $514.00 target price on shares of Praxis Precision Medicines in a report on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $575.00 price target (up from $470.00) on shares of Praxis Precision Medicines in a research note on Friday, August 21st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $630.42.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for disorders of the central nervous system. The company applies its Cerebrum™ platform, which combines human genetics, neuroscience and data science, to identify disease mechanisms and advance precision medicines for patients with neurological and psychiatric conditions.

Its pipeline has included investigational treatments for epilepsy and other severe neurological disorders. Key programs have included PRAX-628, a small-molecule antiseizure medicine candidate, and elsunersen, an antisense oligonucleotide program being developed for certain genetically defined forms of epilepsy.