Moody Aldrich Partners LLC Cuts Stock Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Moody Aldrich Partners LLC trimmed its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,677 shares of the company’s stock after selling 928 shares during the period. Moody Aldrich Partners LLC owned approximately 0.16% of Praxis Precision Medicines worth $2,361,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in Praxis Precision Medicines during the 2nd quarter valued at $25,000. Quarry LP acquired a new position in Praxis Precision Medicines during the 2nd quarter worth $83,000. US Bancorp DE grew its holdings in Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after acquiring an additional 605 shares in the last quarter. Intech Investment Management LLC acquired a new position in Praxis Precision Medicines during the 3rd quarter worth $217,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Praxis Precision Medicines during the 3rd quarter worth $231,000. 67.84% of the stock is owned by institutional investors and hedge funds.

Praxis Precision Medicines Stock Performance

PRAX stock opened at $75.36 on Wednesday. Praxis Precision Medicines, Inc. has a 52-week low of $33.01 and a 52-week high of $86.93. The company’s 50 day simple moving average is $74.22 and its 200-day simple moving average is $66.03.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data 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). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same quarter in the prior year, the company posted ($2.70) EPS. On average, research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current fiscal year.

Insider Buying and Selling at Praxis Precision Medicines

In other news, General Counsel Alex Nemiroff sold 8,239 shares of the 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 transaction, the general counsel now owns 10,301 shares in the company, valued at $826,140.20. This represents a 44.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lauren Mastrocola sold 5,188 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total transaction of $424,274.64. Following the sale, the insider now directly owns 5,613 shares of the company’s stock, valued at approximately $459,031.14. This represents a 48.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PRAX shares. Truist Financial lifted their price target on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC restated 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, HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $149.11.

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.