Seven Fleet Capital Management LP Takes $796,000 Position in Praxis Precision Medicines, Inc. $PRAX

Seven Fleet Capital Management LP purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,700 shares of the company’s stock, valued at approximately $796,000.

Several other hedge funds have also recently modified their holdings of PRAX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Praxis Precision Medicines by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock worth $444,000 after buying an additional 573 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Praxis Precision Medicines by 367.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company’s stock valued at $3,298,000 after acquiring an additional 68,466 shares during the last quarter. Creative Planning purchased a new position in shares of Praxis Precision Medicines in the second quarter valued at approximately $273,000. JPMorgan Chase & Co. lifted its position in shares of Praxis Precision Medicines by 21.4% in the second quarter. JPMorgan Chase & Co. now owns 13,938 shares of the company’s stock valued at $586,000 after acquiring an additional 2,459 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Praxis Precision Medicines by 15.7% in the second quarter. Legal & General Group Plc now owns 16,670 shares of the company’s stock worth $701,000 after acquiring an additional 2,261 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

PRAX stock opened at $282.31 on Friday. Praxis Precision Medicines, Inc. has a 1 year low of $37.19 and a 1 year high of $366.52. The firm has a market capitalization of $7.87 billion, a PE ratio of -21.12 and a beta of 2.71. The business has a 50 day simple moving average of $316.05 and a 200-day simple moving average of $303.57.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, topping analysts’ consensus estimates of ($3.58) by $0.38. On average, equities research analysts expect that Praxis Precision Medicines, Inc. will post -14.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRAX. TD Cowen reiterated a “buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Robert W. Baird lowered their target price on shares of Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 2nd. Wells Fargo & Company set a $305.00 target price on shares of Praxis Precision Medicines and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Royal Bank Of Canada initiated coverage on shares of Praxis Precision Medicines in a report on Wednesday. They set an “outperform” rating and a $449.00 target price for the company. Finally, Raymond James Financial began coverage on shares of Praxis Precision Medicines in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $815.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $566.21.

Praxis Precision Medicines Profile

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.