Investors in cash trouble should check out Praxis Precision Medicines Inc. (PRAX)

Praxis Precision Medicines Inc. (NASDAQ: PRAX) stock fell -8.65% on Monday to $4.12 against a previous-day closing price of $4.51. With 0.93 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.86 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.5100 whereas the lowest price it dropped to was $4.0550. The 52-week range on PRAX shows that it touched its highest point at $15.76 and its lowest point at $1.48 during that stretch. It currently has a 1-year price target of $8.88.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRAX was up-trending over the past week, with a rise of 15.73%, but this was up by 99.03% over a month. Three-month performance surged to 146.71% while six-month performance rose 28.35%. The stock lost -71.55% in the past year, while it has gained 73.11% so far this year. A look at the trailing 12-month EPS for PRAX yields -5.10 with Next year EPS estimates of -2.73. For the next quarter, that number is -0.73. This implies an EPS growth rate of -115.90% for this year and 38.80% for next year.

Float and Shares Shorts:

At present, 47.12 million PRAX shares are outstanding with a float of 46.81 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.06 million, which was 4.52% higher than short shares on Sep 14, 2022. In addition to Mr. Marcio Souza M.B.A. as the firm’s Pres, CEO & Director, Ms. Nicole Sweeny serves as its Chief Commercial Officer.


Institutional Ownership:

Through their ownership of 87.14% of PRAX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.13% of PRAX, in contrast to 21.98% held by mutual funds. Shares owned by individuals account for 17.57%. As the largest shareholder in PRAX with 7.47% of the stake, Eventide Asset Management LLC holds 3,518,062 shares worth 3,518,062. A second-largest stockholder of PRAX, PFM Health Sciences LP, holds 3,458,525 shares, controlling over 7.34% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PRAX, holding 2,968,821 shares or 6.30% stake. With a 5.24% stake in PRAX, the Eventide Healthcare & Life Scienc is the largest stakeholder. A total of 2,466,787 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.27% of PRAX stock, is the second-largest Mutual Fund holder. It holds 1,071,276 shares valued at 2.55 million. Catalyst Eventide Gilead Fund holds 2.23% of the stake in PRAX, owning 1,051,275 shares worth 2.5 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRAX since 6 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRAX analysts setting a high price target of $18.00 and a low target of $3.00, the average target price over the next 12 months is $9.85. Based on these targets, PRAX could surge 336.89% to reach the target high and fall by -27.18% to reach the target low. Reaching the average price target will result in a growth of 139.08% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PRAX will report FY 2022 earnings on 02/26/2024. Analysts have provided yearly estimates in a range of -$4.29 being high and -$4.63 being low. For PRAX, this leads to a yearly average estimate of -$4.46. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Praxis Precision Medicines Inc. surprised analysts by -$0.07 when it reported -$0.96 EPS against a consensus estimate of -$0.89. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.64 and the low estimate is -$0.83. The average estimate for the next quarter is thus -$0.73.

Summary of Insider Activity:

Insiders traded PRAX stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 2,802 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 86,625 while 5,629 shares were sold.

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