UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $913,000 Stock Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 27.5% in the third quarter, HoldingsChannel reports. The fund owned 15,868 shares of the company’s stock after selling 6,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Praxis Precision Medicines were worth $913,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRAX. Marshall Wace LLP lifted its position in shares of Praxis Precision Medicines by 105.2% in the second quarter. Marshall Wace LLP now owns 248,381 shares of the company’s stock worth $10,273,000 after purchasing an additional 127,357 shares in the last quarter. Point72 Asset Management L.P. increased its stake 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 buying an additional 97,561 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Praxis Precision Medicines by 188.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 137,052 shares of the company’s stock worth $7,886,000 after buying an additional 89,578 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Praxis Precision Medicines by 523.2% during the 2nd quarter. Renaissance Technologies LLC now owns 75,433 shares of the company’s stock worth $3,120,000 after buying an additional 63,329 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of 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 acquiring an additional 56,272 shares in the last quarter. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Stock Down 4.0 %

PRAX opened at $70.12 on Thursday. Praxis Precision Medicines, Inc. has a 12-month low of $16.08 and a 12-month high of $86.93. The business has a 50 day moving average of $73.16 and a 200-day moving average of $59.19. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -6.81 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly 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). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.53 million. During the same period in the prior year, the business earned ($2.70) EPS. As a group, analysts expect that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.

Insider Transactions at Praxis Precision Medicines

In other news, General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total value of $660,767.80. Following the transaction, the general counsel now owns 10,301 shares of the company’s stock, valued at approximately $826,140.20. This represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lauren Mastrocola sold 5,188 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the transaction, 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 disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PRAX. Needham & Company LLC reiterated a “buy” rating and set a $151.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Finally, Oppenheimer raised 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Praxis Precision Medicines has an average 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.