Fox Run Management L.L.C. Makes New Investment in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Fox Run Management L.L.C. acquired a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,195 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Praxis Precision Medicines by 5,437.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company’s stock valued at $43,027,000 after purchasing an additional 548,986 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Praxis Precision Medicines by 85.6% during the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock valued at $25,619,000 after acquiring an additional 205,335 shares in the last quarter. Baker BROS. Advisors LP increased its position in shares of Praxis Precision Medicines by 145.6% during the third quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company’s stock worth $18,591,000 after acquiring an additional 191,572 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Praxis Precision Medicines by 326.9% in the third quarter. Wellington Management Group LLP now owns 219,907 shares of the company’s stock worth $12,653,000 after acquiring an additional 168,394 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Praxis Precision Medicines by 37.2% in the third quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock valued at $30,079,000 after purchasing an additional 141,881 shares during the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 1.7 %

NASDAQ:PRAX opened at $38.85 on Friday. The stock has a 50 day moving average of $62.18 and a 200-day moving average of $67.45. The firm has a market capitalization of $783.33 million, a PE ratio of -3.77 and a beta of 2.76. Praxis Precision Medicines, Inc. has a 52 week low of $30.01 and a 52 week high of $91.83.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRAX. Robert W. Baird dropped their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Needham & Company LLC cut their price target on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. HC Wainwright decreased their price objective 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. Truist Financial cut their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price target for the company. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.