Assenagon Asset Management S.A. Decreases Stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Assenagon Asset Management S.A. lessened its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,096 shares of the company’s stock after selling 9,665 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Praxis Precision Medicines worth $581,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Praxis Precision Medicines in the first quarter valued at approximately $32,707,000. Vanguard Group Inc. boosted its stake in Praxis Precision Medicines by 100.6% during the first quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after buying an additional 373,131 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Praxis Precision Medicines by 523.2% in the 2nd quarter. Renaissance Technologies LLC now owns 75,433 shares of the company’s stock valued at $3,120,000 after buying an additional 63,329 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Praxis Precision Medicines by 46.6% in the 2nd quarter. TD Asset Management Inc now owns 51,312 shares of the company’s stock worth $2,122,000 after acquiring an additional 16,312 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its holdings in shares of Praxis Precision Medicines by 29.6% during the 3rd quarter. Moody Aldrich Partners LLC now owns 31,605 shares of the company’s stock worth $1,819,000 after acquiring an additional 7,224 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock opened at $68.33 on Friday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -6.67 and a beta of 2.67. The business has a 50-day moving average of $62.58 and a 200 day moving average of $53.23. Praxis Precision Medicines, Inc. has a 12 month low of $13.01 and a 12 month high of $75.73.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($1.74) EPS for the quarter, beating the consensus estimate of ($2.38) by $0.64. Praxis Precision Medicines had a negative net margin of 6,987.01% and a negative return on equity of 61.47%. The business had revenue of $0.36 million during the quarter, compared to analyst estimates of $1.44 million. Equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -8.5 earnings per share for the current year.

Analyst Ratings Changes

PRAX has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Oppenheimer lifted their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday. Wedbush increased their price objective 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. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

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.