Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Insider Lauren Mastrocola Sells 5,188 Shares

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $81.78, for a total transaction 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. The trade was a 48.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock traded down $5.12 during midday trading on Friday, hitting $71.76. 551,065 shares of the company were exchanged, compared to its average volume of 282,749. The firm has a market capitalization of $1.34 billion, a P/E ratio of -6.87 and a beta of 2.67. The firm’s 50 day moving average price is $66.65 and its two-hundred day moving average price is $54.91. Praxis Precision Medicines, Inc. has a 52 week low of $13.98 and a 52 week high of $86.93.

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

Hedge Funds Weigh In On Praxis Precision Medicines

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its position in Praxis Precision Medicines by 10.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company’s stock valued at $43,498,000 after acquiring an additional 97,561 shares during the period. RA Capital Management L.P. acquired a new position in Praxis Precision Medicines in the 1st quarter valued at approximately $50,548,000. Vanguard Group Inc. increased its position in Praxis Precision Medicines by 100.6% in the 1st quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock valued at $45,403,000 after acquiring an additional 373,131 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Praxis Precision Medicines in the 1st quarter valued at approximately $32,707,000. Finally, Janus Henderson Group PLC increased its position in Praxis Precision Medicines by 37.2% in the 3rd quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock valued at $30,079,000 after acquiring an additional 141,881 shares during the period. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Praxis Precision Medicines Company 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.