Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Stock Position Lessened by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. decreased its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,500 shares of the company’s stock after selling 10,500 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.06% of Praxis Precision Medicines worth $808,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Praxis Precision Medicines in the fourth quarter worth $48,000. US Bancorp DE grew its stake in shares of 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 position in shares of Praxis Precision Medicines in the third quarter worth $217,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Praxis Precision Medicines in the fourth quarter valued at $304,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Praxis Precision Medicines in the third quarter valued at $231,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Down 1.9 %

NASDAQ:PRAX opened at $79.54 on Friday. Praxis Precision Medicines, Inc. has a 1-year low of $33.01 and a 1-year high of $91.83. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.72 and a beta of 2.65. The stock has a fifty day simple moving average of $77.33 and a 200 day simple moving average of $69.10.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Truist Financial upped their price objective on Praxis Precision Medicines from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Oppenheimer upped their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Praxis Precision Medicines in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.20.

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.