MetLife Investment Management LLC Has $583,000 Stock Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

MetLife Investment Management LLC boosted its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 129.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,131 shares of the company’s stock after acquiring an additional 5,708 shares during the period. MetLife Investment Management LLC owned 0.05% of Praxis Precision Medicines worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its position in Praxis Precision Medicines by 29.2% in the 3rd quarter. CIBC Asset Management Inc now owns 248,939 shares of the company’s stock valued at $14,324,000 after purchasing an additional 56,272 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Praxis Precision Medicines by 523.2% during the second 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 during the last quarter. TD Asset Management Inc grew its holdings in shares of Praxis Precision Medicines by 46.6% during the second quarter. TD Asset Management Inc now owns 51,312 shares of the company’s stock valued at $2,122,000 after buying an additional 16,312 shares during the last quarter. Moody Aldrich Partners LLC increased its position in shares of Praxis Precision Medicines by 29.6% during the third 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 in the last quarter. Finally, Ballentine Partners LLC bought a new position in Praxis Precision Medicines in the 2nd quarter valued at about $451,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 2.5 %

Shares of PRAX opened at $69.85 on Friday. Praxis Precision Medicines, Inc. has a twelve month low of $14.77 and a twelve month high of $86.93. The stock has a market cap of $1.30 billion, a PE ratio of -6.78 and a beta of 2.67. The business’s 50-day moving average price is $71.74 and its 200-day moving average price is $57.63.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its 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). The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.53 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. During the same quarter in the prior year, the company earned ($2.70) earnings per share. Analysts expect that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current fiscal year.

Insider Activity at Praxis Precision Medicines

In other news, insider Lauren Mastrocola sold 5,188 shares of the firm’s 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 sale, the insider now owns 5,613 shares in the company, valued at approximately $459,031.14. This trade represents a 48.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the transaction, the general counsel now owns 10,301 shares of the company’s stock, valued at $826,140.20. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PRAX shares. Wedbush lifted their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Needham & Company LLC reiterated a “buy” rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Oppenheimer increased their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Finally, Guggenheim increased their price objective 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. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.