Investing in Praxis Precision Medicines Inc. (PRAX): What You Must Know


Praxis Precision Medicines Inc.’s filing revealed that its Principal Accounting Officer Mastrocola Lauren acquired Company’s shares for reported $5775.0 on Jun 16. In the deal valued at $1.93 per share,3,000 shares were bought. As a result of this transaction, Mastrocola Lauren now holds 31,391 shares worth roughly $ 32018.82.

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Then, Nemiroff Alex bought 7,500 shares, generating $12,225 in total proceeds. Upon buying the shares at $1.63, the General Counsel and Secretary now owns 39,347 shares.

Before that, Kelly Timothy Edwin bought 10,000 shares. Praxis Precision Medicines Inc. shares valued at $17,650 were divested by the Chief Financial Officer at a price of $1.76 per share. As a result of the transaction, Kelly Timothy Edwin now holds 40,490 shares, worth roughly $41299.8.

Wedbush downgraded its Praxis Precision Medicines Inc. [PRAX] rating to a Neutral from a an Outperform in a research note published on Tuesday. PT values the company’s stock at a premium of 74.5 to its Tuesday closing price. A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in mid December with a ‘”a Buy”‘ rating. BofA Securities began covering PRAX with “Buy” recommendation on August 26, 2021. William Blair started covering the stock on April 26, 2021. It rated PRAX as “an Outperform”.

Price Performance Review of PRAX

On Tuesday, Praxis Precision Medicines Inc. [NASDAQ:PRAX] saw its stock fall -8.11% to $1.02. On the same session, the stock had its day’s lowest price of $1.01, but rose to a high of $1.12. Over the last five days, the stock has lost -66.72%. Praxis Precision Medicines Inc. shares have fallen nearly -57.14% since the year began. Nevertheless, the stocks have fallen -92.01% over the past one year. While a 52-week high of $13.86 was reached on 01/13/23, a 52-week low of $0.98 was recorded on 03/03/23. SMA at 50 days reached $3.4180, while 200 days put it at $3.1827. A total of 3.55 million shares were traded, compared to the trading of 34.67 million shares in the previous session.

Levels Of Support And Resistance For PRAX Stock

The 24-hour chart illustrates a support level at 0.9800, which if violated will result in even more drops to 0.9400. On the upside, there is a resistance level at 1.0900. A further resistance level may holdings at 1.1600. The Relative Strength Index (RSI) on the 14-day chart is 16.61, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.8094, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.64%. Stochastics %K at 2.13% indicates the stock is a buying.

How much short interest is there in Praxis Precision Medicines Inc.?

A steep rise in short interest was recorded in Praxis Precision Medicines Inc. stocks on Jan 12, 2023, growing by 0.23 million shares to a total of 2.14 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 1.91 million shares. There was a rise of 10.75%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.19% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.58.

Praxis Precision Medicines Inc. [PRAX] – Who Are The Largest Shareholders?

In filings from Avidity Partners Management LP, it is revealed that the company now owns 4,100,000 shares, or roughly 8.70% of the outstanding PRAX shares.. Over the last quarter, PFM Health Sciences LP sold -681,058 shares of Praxis Precision Medicines Inc., while BlackRock Fund Advisors sold 66,819 shares. At present, Adage Capital Management LP is holding 2,256,041 shares valued at $11.24 million. Baker Bros. Advisors LP owned 1,830,315 shares of the company at the time of its most recent 13F filing, worth $9.11 million.

The most recent change occurred on November 11, 2020 when Wedbush began covering the stock and recommended ‘”an Outperform”‘ rating along with a $40 price target.


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