Key Points
- Lauren Mastrocola sold 13,600 shares of Praxis (NASDAQ:PRAX) on Nov. 20 at an average price of $192.08, netting about $2.61 million and reducing her stake by 56.57% to 10,442 shares (≈$2.01M).
- PRAX recently traded at $169.80 on heavy volume, has a market cap of $4.25B and a 52‑week range of $26.70–$206.71, and is viewed favorably by analysts (consensus "Moderate Buy") with an average target of $257.50.
Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) insider Lauren Mastrocola sold 13,600 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $192.08, for a total transaction of $2,612,288.00. Following the completion of the transaction, the insider owned 10,442 shares in the company, valued at $2,005,699.36. This represents a 56.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Praxis Precision Medicines Stock Performance
PRAX traded up $5.71 during trading on Friday, reaching $169.80. 1,740,724 shares of the company's stock were exchanged, compared to its average volume of 815,940. The company's fifty day moving average price is $121.11 and its 200-day moving average price is $71.57. The firm has a market capitalization of $4.25 billion, a PE ratio of -13.16 and a beta of 2.82. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $206.71.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.45) by $0.09. Research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of PRAX. Woodline Partners LP grew its holdings in shares of Praxis Precision Medicines by 1,666.5% in the 1st quarter. Woodline Partners LP now owns 175,727 shares of the company's stock valued at $6,655,000 after acquiring an additional 165,779 shares in the last quarter. Aberdeen Group plc boosted its position in Praxis Precision Medicines by 143.5% during the second quarter. Aberdeen Group plc now owns 214,056 shares of the company's stock valued at $9,001,000 after purchasing an additional 126,153 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Praxis Precision Medicines by 19.1% during the second quarter. Assenagon Asset Management S.A. now owns 604,298 shares of the company's stock valued at $25,411,000 after purchasing an additional 96,898 shares during the last quarter. Cormorant Asset Management LP grew its stake in Praxis Precision Medicines by 3.1% in the first quarter. Cormorant Asset Management LP now owns 1,745,000 shares of the company's stock valued at $66,083,000 after purchasing an additional 51,781 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Praxis Precision Medicines by 6.7% during the 1st quarter. Rhumbline Advisers now owns 24,294 shares of the company's stock worth $920,000 after purchasing an additional 1,525 shares during the last quarter. 67.84% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
PRAX has been the subject of several analyst reports. HC Wainwright boosted their target price on Praxis Precision Medicines from $232.00 to $258.00 and gave the stock a "buy" rating in a research report on Thursday, November 13th. Needham & Company LLC boosted their price objective on shares of Praxis Precision Medicines from $80.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, October 16th. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 target price (up from $65.00) on shares of Praxis Precision Medicines in a report on Thursday, October 16th. Truist Financial reiterated a "buy" rating and set a $360.00 target price (up from $85.00) on shares of Praxis Precision Medicines in a report on Friday, October 17th. Finally, BTIG Research set a $424.00 target price on Praxis Precision Medicines and gave the company a "buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $257.50.
Get Our Latest Stock Analysis on PRAX
About Praxis Precision Medicines
(
Get Free Report)
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.
Further Reading
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