Praxis Precision Medicines, Inc. $PRAX Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. trimmed its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 20.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,400 shares of the company’s stock after selling 2,100 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Praxis Precision Medicines were worth $2,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Strs Ohio acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth about $943,000. Danske Bank A S acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth about $59,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth about $536,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth about $2,068,000. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth about $12,300,000. 67.84% of the stock is owned by institutional investors and hedge funds.

Praxis Precision Medicines Price Performance

NASDAQ PRAX opened at $324.20 on Friday. The company has a market cap of $9.03 billion, a P/E ratio of -24.09 and a beta of 2.76. The stock has a 50-day moving average of $318.10 and a two-hundred day moving average of $271.83. Praxis Precision Medicines, Inc. has a 1-year low of $34.89 and a 1-year high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($3.00) by ($0.50). On average, analysts anticipate that Praxis Precision Medicines, Inc. will post -14.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PRAX shares. Robert W. Baird set a $433.00 price objective on Praxis Precision Medicines and gave the stock an “outperform” rating in a research report on Friday, February 20th. HC Wainwright reissued a “buy” rating and set a $1,245.00 price objective on shares of Praxis Precision Medicines in a research report on Tuesday, April 7th. Piper Sandler reissued an “overweight” rating and set a $1,200.00 price objective (up from $450.00) on shares of Praxis Precision Medicines in a research report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $437.00 price objective on shares of Praxis Precision Medicines in a research report on Wednesday, April 15th. Finally, Raymond James Financial began coverage on Praxis Precision Medicines in a research report on Friday, April 10th. They set a “strong-buy” rating and a $815.00 price objective for the company. Five research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Buy” and a consensus price target of $590.78.

About Praxis Precision Medicines

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.