Alex Nemiroff Sells 8,239 Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at $826,140.20. This represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Praxis Precision Medicines Stock Performance

Shares of PRAX opened at $71.76 on Friday. Praxis Precision Medicines, Inc. has a 1 year low of $13.98 and a 1 year high of $86.93. The firm has a fifty day moving average of $67.00 and a 200-day moving average of $55.01. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -6.97 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) 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 the consensus estimate 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 last year, the company posted ($2.70) EPS. Analysts predict that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRAX. Guggenheim upped their target price 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. Wedbush upped their price objective on 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 reiterated a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $146.33.

Institutional Trading of Praxis Precision Medicines

Several large investors have recently added to or reduced their stakes in PRAX. BNP Paribas Financial Markets acquired a new position in Praxis Precision Medicines during the 1st quarter worth $412,000. SG Americas Securities LLC bought a new stake in shares of Praxis Precision Medicines during the first quarter valued at about $150,000. Vanguard Group Inc. lifted its holdings in Praxis Precision Medicines by 100.6% in the first quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock worth $45,403,000 after purchasing an additional 373,131 shares during the period. Boulder Hill Capital Management LP acquired a new stake in Praxis Precision Medicines in the first quarter worth about $256,000. Finally, StemPoint Capital LP bought a new position in Praxis Precision Medicines in the 1st quarter valued at about $1,641,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

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.