Praxis Precision Medicines Inc (NASDAQ: PRAX) Is A Good Bet For Risk-Tolerant Investors

Praxis Precision Medicines Inc (NASDAQ:PRAX)’s traded shares stood at 1.78 million during the last session, with the company’s beta value hitting 2.89. At the close of trading, the stock’s price was $61.02, to imply an increase of 3.07% or $1.82 in intraday trading. The PRAX share’s 52-week high remains $67.21, putting it -10.14% down since that peak but still an impressive 80.58% since price per share fell to its 52-week low of $11.85. The company has a valuation of $807.90M, with an average of 0.42 million shares in intraday trading volume over the past 10 days and average of 180.94K shares over the past 3 months.

Praxis Precision Medicines Inc (NASDAQ:PRAX) trade information

After registering a 3.07% 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 67.21, jumping 3.07% in its intraday price action. The 5-day price performance for the stock is 16.43%, and 27.87% over 30 days. With these gigs, the year-to-date price performance is 173.88%. Short interest in Praxis Precision Medicines Inc (NASDAQ:PRAX) saw shorts transact 0.41 million shares and set a 3.43 days time to cover.

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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 173.02% up over the last 6 months, with its year-to-date growth rate higher than industry average at 53.02% against 13.00%. Revenue is forecast to grow 80.60% this quarter before jumping 69.30% for the next one. The rating firms project that company’s revenue will shrink -6.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 6 analysts is $1.83 million. Meanwhile, for the quarter ending Jun 2024, a total of 6 analyst(s) estimate revenue growth to $170k.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -10.28% for the past 5-year period. While 2024 is set for a 51.95% return in earnings, projections for the next 5 years are at -14.60% annually.

PRAX Dividends

Praxis Precision Medicines Inc has its next earnings report out between May 09 and May 13. 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 0.21% of total outstanding shares, with institutional holders owning 60.89% of the shares at 61.02% float percentage. In total, 60.89% institutions holds shares in the company, led by Point72 Asset Management, L.P.. As of Jun 29, 2023, the company held over 10.55 million shares (or 8.21% of shares), all amounting to roughly $12.13 million.

The next major institution holding the largest number of shares is Verition Fund Management, LLC with 10.49 million shares, or about 8.16% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $12.06 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Extended 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 Jun 29, 2023, Vanguard Total Stock Market Index Fund holds roughly 1.67 million shares. This is just over 1.30% of the total shares, with a market valuation of $1.92 million. Data from the same date shows that the other fund manager holds a little less at 0.58 million, or 0.45% of the shares, all valued at about 0.66 million.