Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Insider Lauren Mastrocola Sells 5,188 Shares of Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines 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 completion of the transaction, the insider now directly owns 5,613 shares in the company, valued at approximately $459,031.14. This represents a 48.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Praxis Precision Medicines Price Performance

PRAX opened at $71.76 on Friday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -6.97 and a beta of 2.67. The company’s 50 day simple moving average is $67.00 and its 200-day simple moving average is $55.01. Praxis Precision Medicines, Inc. has a one year low of $13.98 and a one year high of $86.93.

Praxis Precision Medicines (NASDAQ:PRAX) last issued 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). The firm had revenue of $0.30 million for 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 period last year, the company earned ($2.70) EPS. As a group, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PRAX shares. Guggenheim boosted their target price on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Wedbush lifted their price target on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and issued a $151.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Finally, Oppenheimer lifted their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and an average target price of $146.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRAX. Amalgamated Bank acquired a new stake in shares of Praxis Precision Medicines during the 2nd quarter worth approximately $25,000. US Bancorp DE boosted its stake in Praxis Precision Medicines by 35.9% in the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock valued at $132,000 after acquiring an additional 605 shares during the last quarter. Quarry LP acquired a new stake in Praxis Precision Medicines during the 2nd quarter worth $83,000. SG Americas Securities LLC bought a new stake in shares of Praxis Precision Medicines during the 1st quarter valued at $150,000. Finally, Kingdon Capital Management L.L.C. lifted its stake in shares of Praxis Precision Medicines by 1.0% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 350,000 shares of the company’s stock valued at $21,357,000 after purchasing an additional 3,335 shares during the period. 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.