Jump Financial LLC Takes Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Jump Financial LLC purchased a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 11,188 shares of the company’s stock, valued at approximately $861,000.

A number of other institutional investors also recently bought and sold shares of PRAX. CIBC Asset Management Inc grew its holdings in shares of Praxis Precision Medicines by 47.3% during the 4th quarter. CIBC Asset Management Inc now owns 366,756 shares of the company’s stock worth $28,226,000 after acquiring an additional 117,817 shares during the period. Barclays PLC grew its stake in Praxis Precision Medicines by 126.8% in the third quarter. Barclays PLC now owns 37,130 shares of the company’s stock worth $2,136,000 after purchasing an additional 20,759 shares during the period. Franklin Resources Inc. raised its holdings in Praxis Precision Medicines by 85.6% in the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock worth $25,619,000 after purchasing an additional 205,335 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Praxis Precision Medicines in the fourth quarter worth $304,000. Finally, Geode Capital Management LLC lifted its position in Praxis Precision Medicines by 1.0% during the third quarter. Geode Capital Management LLC now owns 398,838 shares of the company’s stock valued at $22,954,000 after buying an additional 3,779 shares during the period. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Stock Performance

Shares of NASDAQ:PRAX opened at $35.34 on Tuesday. The firm has a market cap of $712.56 million, a price-to-earnings ratio of -3.43 and a beta of 2.66. The business has a 50-day simple moving average of $44.31 and a two-hundred day simple moving average of $63.89. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The company had revenue of $7.48 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRAX. Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, April 8th. HC Wainwright lowered their target price on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Robert W. Baird cut their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective for the company. Finally, Wedbush cut Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.33.

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.