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Future Outlook And Stock Price Performance For Praxis Precision Medicines Inc. (NASDAQ: PRAX)

In the last trading session, 1.64 million shares of the Praxis Precision Medicines Inc. (NASDAQ:PRAX) were traded. Most recently the company’s share price was $1.10, and it changed around $0.04 or 3.77% from the last close, which brings the market valuation of the company to $66.32M. PRAX currently trades at a discount to its 52-week high of $10.88, offering almost -889.09% off that amount. The share price’s 52-week low was $0.79, which indicates that the current value has risen by an impressive 28.18% since then. We note from Praxis Precision Medicines Inc.’s average daily trading volume that its 10-day average is 0.87 million shares, with the 3-month average coming to 1.64 million.

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

Instantly PRAX has showed a green trend with a performance of 3.77% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 1.1400 on Tuesday, 05/23/23 increased the stock’s daily price by 3.51%. The company’s shares are currently down -53.78% year-to-date, but still up 4.76% over the last five days. On the other hand, Praxis Precision Medicines Inc. (NASDAQ:PRAX) is 3.77% up in the 30-day period. We can see from the shorts that 5.01 million shares have been sold at a short interest cover period of 7.46 day(s).

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Praxis Precision Medicines Inc. (PRAX) estimates and forecasts

Praxis Precision Medicines Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -45.00 percent over the past six months and at a 42.03% annual growth rate that is well above the industry average of 11.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 48.50% in revenue this quarter, and will report an increase of 30.20% in the next quarter.

Praxis Precision Medicines Inc. earnings are expected to increase by -18.00% in 2023, but the outlook is negative -14.60% per year for the next five years.

PRAX Dividends

Praxis Precision Medicines Inc.’s next quarterly earnings report is expected to be released in June.

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

Upon looking at major shareholders, it appears that insiders hold 0.67% of Praxis Precision Medicines Inc. shares, and 111.62% of them are in the hands of institutional investors. The stock currently has a share float of 112.36%. Praxis Precision Medicines Inc. stock is held by 151 institutions, with Velan Capital Investment Management LP being the largest institutional investor. By Mar 30, 2023, it held 8.35% of the shares, which is about 5.18 million shares worth $4.19 million.

Kingdon Capital Management LLC, with 7.57% or 4.7 million shares worth $3.8 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 2.47 million shares worth $5.87 million, making up 4.71% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.07 million shares worth around $2.55 million, which represents about 2.04% of the total shares outstanding.

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