Insider Selling: Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Insider Sells 5,188 Shares of Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 5,188 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $81.78, for a total value of $424,274.64. Following the completion of the sale, the insider now directly owns 5,613 shares of the company’s stock, valued at approximately $459,031.14. This trade represents a 48.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Praxis Precision Medicines Stock Down 6.7 %

NASDAQ PRAX opened at $71.76 on Friday. The firm’s 50 day moving average is $67.00 and its 200-day moving average is $55.01. The company has a market capitalization of $1.34 billion, a PE ratio of -6.97 and a beta of 2.67. Praxis Precision Medicines, Inc. has a 12-month low of $13.98 and a 12-month high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. During the same quarter in the previous year, the firm posted ($2.70) earnings per share. As a group, sell-side analysts expect that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

Institutional Trading of Praxis Precision Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of PRAX. Geode Capital Management LLC grew its stake in Praxis Precision Medicines by 1.0% in the third quarter. Geode Capital Management LLC now owns 398,838 shares of the company’s stock valued at $22,954,000 after purchasing an additional 3,779 shares in the last quarter. Barclays PLC boosted its holdings in shares of Praxis Precision Medicines by 126.8% in the 3rd quarter. Barclays PLC now owns 37,130 shares of the company’s stock valued at $2,136,000 after buying an additional 20,759 shares during the last quarter. Wellington Management Group LLP grew 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 valued at $12,653,000 after buying an additional 168,394 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of 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 buying an additional 141,881 shares in the last quarter. Finally, HighVista Strategies LLC acquired a new position in Praxis Precision Medicines during the third quarter worth $630,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PRAX shares. Oppenheimer lifted their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Wedbush raised their price target on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Guggenheim lifted their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $151.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and eight have given 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 target price of $146.33.

About Praxis Precision Medicines

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.