Trexquant Investment LP Cuts Stock Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Trexquant Investment LP lowered its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 40.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,115 shares of the company’s stock after selling 6,317 shares during the period. Trexquant Investment LP’s holdings in Praxis Precision Medicines were worth $701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Praxis Precision Medicines during the 4th quarter worth approximately $48,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $215,000. Fox Run Management L.L.C. bought a new position in shares of Praxis Precision Medicines in the fourth quarter worth approximately $246,000. Arizona State Retirement System increased its stake in shares of Praxis Precision Medicines by 4.2% in the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock worth $296,000 after buying an additional 156 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Praxis Precision Medicines during the 4th quarter valued at $304,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX opened at $29.74 on Friday. The business has a fifty day moving average price of $50.81 and a 200-day moving average price of $65.05. The company has a market capitalization of $599.65 million, a PE ratio of -2.89 and a beta of 2.66. Praxis Precision Medicines, Inc. has a 1-year low of $26.70 and a 1-year high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The firm had revenue of $7.48 million for the quarter, compared to the consensus estimate of $0.36 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. On average, sell-side analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PRAX shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Praxis Precision Medicines in a research report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective on the stock. Wedbush downgraded Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday. Robert W. Baird cut their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, HC Wainwright decreased their target price on Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and an average price target of $123.33.

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.