Insider Buying: Praxis Precision Medicines, Inc. (NASDAQ:PRAX) CEO Acquires 27,000 Shares of Stock

Praxis Precision Medicines, Inc. (NASDAQ:PRAXGet Rating) CEO Marcio Souza purchased 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was bought at an average price of $1.85 per share, with a total value of $49,950.00. Following the completion of the purchase, the chief executive officer now owns 189,184 shares of the company’s stock, valued at approximately $349,990.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of PRAX stock traded down $0.05 during trading hours on Thursday, hitting $1.75. 3,093,102 shares of the company were exchanged, compared to its average volume of 730,489. The firm has a fifty day simple moving average of $8.56 and a 200 day simple moving average of $12.91. Praxis Precision Medicines, Inc. has a 52-week low of $1.70 and a 52-week high of $23.56. The stock has a market capitalization of $79.65 million, a price-to-earnings ratio of -0.37 and a beta of 2.00.

Praxis Precision Medicines (NASDAQ:PRAXGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.22). During the same period in the prior year, the company earned ($0.71) EPS. Research analysts forecast that Praxis Precision Medicines, Inc. will post -5.02 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in PRAX. Point72 Hong Kong Ltd bought a new stake in Praxis Precision Medicines during the fourth quarter worth about $31,000. Royal Bank of Canada lifted its position in Praxis Precision Medicines by 93.6% during the second quarter. Royal Bank of Canada now owns 1,673 shares of the company’s stock valued at $31,000 after purchasing an additional 809 shares during the period. Nisa Investment Advisors LLC bought a new position in Praxis Precision Medicines during the fourth quarter valued at approximately $56,000. Ensign Peak Advisors Inc bought a new position in Praxis Precision Medicines during the fourth quarter valued at approximately $86,000. Finally, Cubist Systematic Strategies LLC lifted its position in Praxis Precision Medicines by 29.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 9,599 shares of the company’s stock valued at $189,000 after purchasing an additional 2,189 shares during the period. Hedge funds and other institutional investors own 96.25% of the company’s stock.

Several equities research analysts recently issued reports on PRAX shares. HC Wainwright cut their price target on Praxis Precision Medicines from $48.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler lowered their price objective on shares of Praxis Precision Medicines from $65.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America downgraded shares of Praxis Precision Medicines from a “buy” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research report on Tuesday. Zacks Investment Research upgraded shares of Praxis Precision Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. Finally, Wedbush downgraded shares of Praxis Precision Medicines from an “outperform” rating to a “neutral” rating and set a $4.00 price target for the company. in a report on Monday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Hold” and an average price target of $9.00.

About Praxis Precision Medicines (Get Rating)

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in Phase IIa clinical trial for the treatment of major depressive disorder and perimenopausal depression; and PRAX-944, a selective small molecule inhibitor of T-type calcium channels, which is in Phase IIa clinical trial for the treatment of essential tremor.

Recommended Stories

Insider Buying and Selling by Quarter for Praxis Precision Medicines (NASDAQ:PRAX)

Want More Great Investing Ideas?

Receive News & Ratings for Praxis Precision Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxis Precision Medicines and related companies with MarketBeat.com's FREE daily email newsletter.