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Praxis Precision Medicines Inc. (NASDAQ: PRAX) Fell -1069.3% From Highs, What Does The Future Hold?

Praxis Precision Medicines Inc. (NASDAQ:PRAX)’s traded shares stood at 1.53 million during the last session. At the close of trading, the stock’s price was $1.14, to imply an increase of 0.88% or $0.01 in intraday trading. The PRAX share’s 52-week high remains $13.33, putting it -1069.3% down since that peak but still an impressive 14.04% since price per share fell to its 52-week low of $0.98. The company has a valuation of $58.62M, with an average of 6.14 million shares in intraday trading volume over the past 10 days and average of 1.97 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Praxis Precision Medicines Inc. (PRAX), translating to a mean rating of 2.50. Of 6 analyst(s) looking at the stock, 0 analyst(s) give PRAX a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.78.

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Praxis Precision Medicines Inc. (NASDAQ:PRAX) trade information

After registering a 0.88% upside in the last session, Praxis Precision Medicines Inc. (PRAX) has traded red over the past five days. The stock hit a weekly high of 1.1600 this Wednesday, 03/15/23, jumping 0.88% in its intraday price action. The 5-day price performance for the stock is 9.62%, and -69.11% over 30 days. With these gigs, the year-to-date price performance is -52.10%. Short interest in Praxis Precision Medicines Inc. (NASDAQ:PRAX) saw shorts transact 2.14 million shares and set a 1.58 days time to cover.

Analysts on Wall Street suggest a consensus price target of $10.30, implying an increase of 88.93% to the stock’s current value. The extremes give us $1.50 and $18.00 for target low and target high price respectively. As such, PRAX has been trading -1478.95% off suggested target high and -31.58% from its likely low.

Praxis Precision Medicines Inc. (PRAX) estimates and forecasts

Looking at statistics comparing Praxis Precision Medicines Inc. share performance against respective industry, we note that the company has outperformed competitors. Praxis Precision Medicines Inc. (PRAX) shares are -57.93% down over the last 6 months, with its year-to-date growth rate higher than industry average at 43.97% against 9.90%. Revenue is forecast to grow 48.30% this quarter before jumping 44.70% for the next one.

PRAX Dividends

Praxis Precision Medicines Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Praxis Precision Medicines Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Praxis Precision Medicines Inc. (NASDAQ:PRAX)’s Major holders

Praxis Precision Medicines Inc. insiders hold 0.65% of total outstanding shares, with institutional holders owning 89.61% of the shares at 90.20% float percentage. In total, 89.61% institutions holds shares in the company, led by Blackstone Inc. As of Sep 29, 2022, the company held over 4.89 million shares (or 10.39% of shares), all amounting to roughly $11.11 million.

The next major institution holding the largest number of shares is Eventide Asset Management LLC with 3.52 million shares, or about 7.47% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $7.99 million.

We also have Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Praxis Precision Medicines Inc. (PRAX) shares. Going by data provided on Sep 29, 2022, Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund holds roughly 2.47 million shares. This is just over 5.24% of the total shares, with a market valuation of $5.6 million. Data from the same date shows that the other fund manager holds a little less at 1.07 million, or 2.27% of the shares, all valued at about 2.43 million.

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