Mesirow Financial Investment Management Inc. Invests $231,000 in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Mesirow Financial Investment Management Inc. purchased a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,006 shares of the company’s stock, valued at approximately $231,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Praxis Precision Medicines in the first quarter valued at $32,707,000. 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 in the last quarter. Renaissance Technologies LLC increased its position 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 acquiring an additional 63,329 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Praxis Precision Medicines by 46.6% in the second 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 lifted 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 purchasing an additional 7,224 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX opened at $82.97 on Wednesday. The firm’s 50 day simple moving average is $65.32 and its 200 day simple moving average is $54.36. Praxis Precision Medicines, Inc. has a fifty-two week low of $13.01 and a fifty-two week high of $86.93. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.47 and a beta of 2.67.

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

Analysts Set New Price Targets

PRAX has been the subject of a number of research reports. Guggenheim boosted 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. Wedbush boosted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Oppenheimer lifted their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. One research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.33.

Praxis Precision Medicines 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.