HighVista Strategies LLC Takes $630,000 Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

HighVista Strategies LLC acquired a new position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,951 shares of the company’s stock, valued at approximately $630,000. HighVista Strategies LLC owned 0.06% of Praxis Precision Medicines as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Amalgamated Bank bought a new stake in shares of Praxis Precision Medicines during the 2nd quarter worth $25,000. Quarry LP acquired a new stake in Praxis Precision Medicines in the second quarter valued at approximately $83,000. US Bancorp DE boosted its holdings in Praxis Precision Medicines by 35.9% in the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after purchasing an additional 605 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Praxis Precision Medicines during the 3rd quarter worth about $217,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Praxis Precision Medicines during the third quarter worth approximately $231,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Lauren Mastrocola sold 5,188 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $81.78, for a total transaction of $424,274.64. Following the completion of the transaction, the insider now directly owns 5,613 shares in the company, valued at approximately $459,031.14. This trade represents a 48.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Alex Nemiroff sold 8,239 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $80.20, for a total value of $660,767.80. Following the transaction, the general counsel now owns 10,301 shares of the company’s stock, valued at approximately $826,140.20. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRAX. Guggenheim boosted their target price on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Oppenheimer boosted their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, Wedbush upped 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.33.

Praxis Precision Medicines Stock Down 2.9 %

Shares of Praxis Precision Medicines stock opened at $77.86 on Tuesday. Praxis Precision Medicines, Inc. has a 12 month low of $14.77 and a 12 month high of $86.93. The stock’s fifty day simple moving average is $70.29 and its 200 day simple moving average is $56.84.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. During the same quarter in the prior year, the firm posted ($2.70) earnings per share. As a group, research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.

Praxis Precision Medicines 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.