Nisa Investment Advisors LLC Has $378,000 Stake in Praxis Precision Medicines, Inc. $PRAX

Nisa Investment Advisors LLC boosted its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 1,033.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,129 shares of the company’s stock after buying an additional 6,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Praxis Precision Medicines were worth $378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PRAX. Tower Research Capital LLC TRC lifted its stake in shares of Praxis Precision Medicines by 24.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after acquiring an additional 359 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Praxis Precision Medicines by 6.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 6,425 shares of the company’s stock worth $270,000 after buying an additional 385 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Praxis Precision Medicines by 5.1% during the first 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. CWM LLC lifted its holdings in Praxis Precision Medicines by 877.9% in the second quarter. CWM LLC now owns 753 shares of the company’s stock valued at $32,000 after buying an additional 676 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its position in Praxis Precision Medicines by 42.9% during the third quarter. KLP Kapitalforvaltning AS now owns 4,000 shares of the company’s stock valued at $212,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

PRAX opened at $317.25 on Friday. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $326.91. The firm has a market capitalization of $7.99 billion, a PE ratio of -24.59 and a beta of 2.85. The company’s 50-day moving average is $243.56 and its 200 day moving average is $132.35.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.36) EPS for the quarter, topping analysts’ consensus estimates of ($3.45) by $0.09. As a group, analysts expect that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRAX. Needham & Company LLC reissued a “buy” rating and issued a $460.00 price objective on shares of Praxis Precision Medicines in a research note on Monday, January 5th. Citigroup restated a “conviction-buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, December 30th. TD Cowen upped their price objective on shares of Praxis Precision Medicines from $251.00 to $353.00 and gave the company a “buy” rating in a report on Monday, December 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Praxis Precision Medicines in a research note on Monday, December 29th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a research report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $436.67.

Insiders Place Their Bets

In other Praxis Precision Medicines news, insider Lauren Mastrocola sold 13,600 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $192.08, for a total transaction of $2,612,288.00. Following the transaction, the insider directly owned 10,442 shares in the company, valued at approximately $2,005,699.36. This trade represents a 56.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alex Nemiroff sold 25,130 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $193.09, for a total value of $4,852,351.70. Following the completion of the transaction, the general counsel directly owned 20,832 shares in the company, valued at approximately $4,022,450.88. This represents a 54.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.70% of the company’s stock.

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.