2,500 Shares in Praxis Precision Medicines, Inc. $PRAX Acquired by Artia Global Partners LP

Artia Global Partners LP purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $737,000.

A number of other institutional investors have also added to or reduced their stakes in PRAX. Orbis Allan Gray Ltd acquired a new position in Praxis Precision Medicines during the 4th quarter worth approximately $369,946,000. Barclays PLC raised its stake in Praxis Precision Medicines by 592.6% during the 4th quarter. Barclays PLC now owns 530,751 shares of the company’s stock worth $156,434,000 after buying an additional 454,114 shares during the period. Baker BROS. Advisors LP raised its stake in Praxis Precision Medicines by 63.4% during the 4th quarter. Baker BROS. Advisors LP now owns 1,126,488 shares of the company’s stock worth $332,021,000 after buying an additional 437,000 shares during the period. RA Capital Management L.P. acquired a new position in Praxis Precision Medicines during the 4th quarter worth approximately $110,170,000. Finally, Woodline Partners LP raised its stake in Praxis Precision Medicines by 808.9% during the 3rd quarter. Woodline Partners LP now owns 417,669 shares of the company’s stock worth $22,136,000 after buying an additional 371,717 shares during the period. 67.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Praxis Precision Medicines in a research note on Wednesday. They issued an “outperform” rating and a $449.00 price objective for the company. Truist Financial set a $616.00 price objective on Praxis Precision Medicines and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company set a $305.00 price objective on Praxis Precision Medicines and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Praxis Precision Medicines in a research note on Wednesday, May 27th. Finally, HC Wainwright lowered their price objective on Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $566.21.

Praxis Precision Medicines Stock Up 5.0%

Shares of Praxis Precision Medicines stock opened at $270.01 on Thursday. The company has a market cap of $7.53 billion, a PE ratio of -20.20 and a beta of 2.71. The business has a 50 day moving average price of $316.54 and a 200-day moving average price of $302.97. Praxis Precision Medicines, Inc. has a 52 week low of $37.19 and a 52 week high of $366.52.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.58) by $0.38. As a group, research analysts anticipate that Praxis Precision Medicines, Inc. will post -14.79 EPS for the current year.

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.