Lauren Mastrocola Sells 13,600 Shares of Praxis Precision Medicines (NASDAQ:PRAX) Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 13,600 shares of Praxis Precision Medicines stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $192.08, for a total value of $2,612,288.00. Following the completion of the sale, the insider directly owned 10,442 shares of the company’s stock, valued at $2,005,699.36. The trade was a 56.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Praxis Precision Medicines Price Performance

Praxis Precision Medicines stock traded up $5.71 during mid-day trading on Friday, reaching $169.80. 1,740,724 shares of the stock traded hands, compared to its average volume of 815,940. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $206.71. The business’s 50-day moving average is $121.11 and its 200-day moving average is $71.57. The stock has a market capitalization of $4.25 billion, a PE ratio of -13.16 and a beta of 2.82.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.45) by $0.09. Equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PRAX shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $280.00 target price (up from $65.00) on shares of Praxis Precision Medicines in a research report on Friday, October 17th. Lifesci Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Praxis Precision Medicines in a research note on Wednesday. HC Wainwright raised their target price on Praxis Precision Medicines from $232.00 to $258.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Guggenheim reiterated a “buy” rating and set a $540.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $257.50.

Institutional Trading of Praxis Precision Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in shares of Praxis Precision Medicines by 188.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,742,758 shares of the company’s stock valued at $65,998,000 after purchasing an additional 1,137,748 shares during the period. Woodline Partners LP increased its stake in Praxis Precision Medicines by 808.9% in the 3rd quarter. Woodline Partners LP now owns 417,669 shares of the company’s stock worth $22,136,000 after buying an additional 371,717 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Praxis Precision Medicines by 192.0% during the first quarter. Driehaus Capital Management LLC now owns 481,598 shares of the company’s stock valued at $18,238,000 after acquiring an additional 316,686 shares during the period. Vivo Capital LLC purchased a new position in shares of Praxis Precision Medicines in the second quarter valued at about $7,048,000. Finally, Deerfield Management Company L.P. boosted its stake in shares of Praxis Precision Medicines by 22.4% in the third quarter. Deerfield Management Company L.P. now owns 840,851 shares of the company’s stock worth $44,565,000 after acquiring an additional 153,920 shares during the period. 67.84% of the stock is owned by hedge funds and other institutional investors.

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.