Jump Financial LLC Takes $861,000 Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Jump Financial LLC acquired a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,188 shares of the company’s stock, valued at approximately $861,000. Jump Financial LLC owned approximately 0.06% of Praxis Precision Medicines as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Praxis Precision Medicines in the fourth quarter worth about $48,000. KLP Kapitalforvaltning AS bought a new stake in Praxis Precision Medicines during the 4th quarter worth approximately $215,000. Envestnet Asset Management Inc. purchased a new stake in Praxis Precision Medicines in the 4th quarter worth approximately $231,000. Fox Run Management L.L.C. bought a new position in Praxis Precision Medicines in the 4th quarter valued at $246,000. Finally, Arizona State Retirement System grew its position in shares of Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock valued at $296,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 4.6 %

Praxis Precision Medicines stock opened at $35.34 on Tuesday. The firm has a fifty day simple moving average of $44.31 and a two-hundred day simple moving average of $63.89. Praxis Precision Medicines, Inc. has a twelve month low of $26.70 and a twelve month high of $91.83. The company has a market capitalization of $712.56 million, a PE ratio of -3.43 and a beta of 2.66.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing the consensus estimate of ($2.76) by ($0.18). The company had revenue of $7.48 million for the quarter, compared to analysts’ expectations 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%. As a group, equities analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRAX has been the topic of a number of recent analyst reports. Wedbush downgraded Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. Robert W. Baird lowered their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a “buy” rating and a $111.00 target price on the stock. Finally, HC Wainwright cut their price target on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines currently has a consensus 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.