TD Asset Management Inc Has $2.17 Million Stock Holdings in Praxis Precision Medicines, Inc. $PRAX

TD Asset Management Inc reduced its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 36.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 40,884 shares of the company’s stock after selling 23,054 shares during the period. TD Asset Management Inc’s holdings in Praxis Precision Medicines were worth $2,167,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Praxis Precision Medicines by 88.3% in the second quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock worth $26,000 after purchasing an additional 295 shares during the period. CWM LLC increased its stake in shares of Praxis Precision Medicines by 877.9% in the second quarter. CWM LLC now owns 753 shares of the company’s stock valued at $32,000 after buying an additional 676 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Praxis Precision Medicines by 24.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after acquiring an additional 359 shares during the period. AlphaQuest LLC grew its stake in Praxis Precision Medicines by 1,623.3% during the third quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock worth $106,000 after purchasing an additional 1,883 shares during the period. Finally, ProShare Advisors LLC bought a new position in Praxis Precision Medicines during the third quarter worth $203,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Praxis Precision Medicines Price Performance

Shares of NASDAQ PRAX opened at $325.11 on Thursday. Praxis Precision Medicines, Inc. has a 1 year low of $26.70 and a 1 year high of $356.00. The firm has a 50-day moving average of $310.44 and a 200 day moving average of $195.29. The stock has a market cap of $9.05 billion, a P/E ratio of -24.15 and a beta of 2.86.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $800.00 price objective (up from $760.00) on shares of Praxis Precision Medicines in a research note on Tuesday, February 10th. Wells Fargo & Company set a $305.00 price objective on Praxis Precision Medicines and gave the company an “equal weight” rating in a research note on Friday, February 20th. Wedbush upped their price target on Praxis Precision Medicines from $95.00 to $130.00 and gave the company an “underperform” rating in a research report on Friday, February 20th. Piper Sandler reissued an “overweight” rating and issued a $1,200.00 price target (up from $450.00) on shares of Praxis Precision Medicines in a report on Wednesday, January 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $843.00 price objective (up from $507.00) on shares of Praxis Precision Medicines in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $576.12.

Praxis Precision Medicines 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.