Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 264,688 shares of the company’s stock after selling 1,808 shares during the period. Driehaus Capital Management LLC owned 1.55% of Praxis Precision Medicines worth $10,947,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Wildcat Capital Management LLC acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter worth $373,000. PCG Wealth Advisors LLC bought a new position in Praxis Precision Medicines during the 1st quarter worth approximately $788,000. BNP Paribas Financial Markets bought a new position in Praxis Precision Medicines during the first quarter worth $412,000. Chase Investment Counsel Corp acquired a new position in shares of Praxis Precision Medicines in the 1st quarter valued at about $229,000. Finally, SG Americas Securities LLC bought a new position in shares of Praxis Precision Medicines during the first quarter valued at approximately $150,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PRAX shares. Piper Sandler restated an “overweight” rating and issued a $270.00 target price on shares of Praxis Precision Medicines in a research report on Monday, July 1st. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, September 3rd. Wedbush lifted their target price on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, September 10th. Finally, Guggenheim raised their price target on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.44.

Praxis Precision Medicines Price Performance

NASDAQ PRAX opened at $57.83 on Monday. Praxis Precision Medicines, Inc. has a one year low of $13.01 and a one year high of $67.21. The firm has a market cap of $1.03 billion, a PE ratio of -3.65 and a beta of 2.72. The stock’s 50 day simple moving average is $55.73 and its 200 day simple moving average is $50.88.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($1.74) earnings per share for the quarter, beating analysts’ consensus estimates 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. As a group, equities analysts expect that Praxis Precision Medicines, Inc. will post -8.5 earnings per share for the current year.

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.