Praxis Precision Medicines Inc. [PRAX] Stock trading around $1.88 per share: What’s Next?


Praxis Precision Medicines Inc. [NASDAQ: PRAX] loss -78.11% or -6.71 points to close at $1.88 with a heavy trading volume of 34743680 shares. The company report on June 6, 2022 that Praxis Precision Medicines Reports Negative Results from PRAX-114 Phase 2/3 Monotherapy Aria Study in Patients with Major Depressive Disorder.

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Aria Study did not achieve statistical significance on the primary endpoint.

Strategic realignment to focus resources on Movement Disorders and Epilepsy franchises extends cash runway into 2024.

It opened the trading session at $3.16, the shares rose to $3.53 and dropped to $1.82, the range by which the price of stock traded the whole day. The daily chart for PRAX points out that the company has recorded -89.56% loss over the past six months. However, it is still 74.07% higher than its most recent low trading price.

If we look at the average trading volume of 328.04K shares, PRAX reached to a volume of 34743680 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Praxis Precision Medicines Inc. [PRAX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRAX shares is $43.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRAX stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Praxis Precision Medicines Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 06, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on December 16, 2021, representing the official price target for Praxis Precision Medicines Inc. stock. Previously, the target price had yet another raise to $28, while BofA Securities analysts kept a Buy rating on PRAX stock.

The Average True Range (ATR) for Praxis Precision Medicines Inc. is set at 1.36 The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 5.09.

Trading performance analysis for PRAX stock

Praxis Precision Medicines Inc. [PRAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -77.65. With this latest performance, PRAX shares dropped by -76.88% in over the last four-week period, additionally sinking by -89.56% over the last 6 months – not to mention a drop of -90.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRAX stock in for the last two-week period is set at 20.20, with the RSI for the last a single of trading hit 13.93, and the three-weeks RSI is set at 24.88 for Praxis Precision Medicines Inc. [PRAX]. The present Moving Average for the last 50 days of trading for this stock 9.18, while it was recorded at 7.02 for the last single week of trading, and 15.42 for the last 200 days.

Praxis Precision Medicines Inc. [PRAX]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -62.07, with Return on Assets sitting at -56.07.

Praxis Precision Medicines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.20.

Praxis Precision Medicines Inc. [PRAX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRAX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Praxis Precision Medicines Inc. go to -14.60%.

An analysis of insider ownership at Praxis Precision Medicines Inc. [PRAX]

There are presently around $392 million, or 98.55% of PRAX stock, in the hands of institutional investors. The top three institutional holders of PRAX stocks are: BLACKSTONE INC. with ownership of 4,894,109, which is approximately 0% of the company’s market cap and around 0.90% of the total institutional ownership; FMR LLC, holding 4,602,871 shares of the stock with an approximate value of $39.54 million in PRAX stocks shares; and EVENTIDE ASSET MANAGEMENT, LLC, currently with $37.75 million in PRAX stock with ownership of nearly 15.336% of the company’s market capitalization.

Positions in Praxis Precision Medicines Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 53 institutional holders increased their position in Praxis Precision Medicines Inc. [NASDAQ:PRAX] by around 2,268,635 shares. Additionally, 36 investors decreased positions by around 632,474 shares, while 25 investors held positions by with 42,689,887 shares. The mentioned changes placed institutional holdings at 45,590,996 shares, according to the latest SEC report filing. PRAX stock had 13 new institutional investments in for a total of 160,551 shares, while 10 institutional investors sold positions of 250,629 shares during the same period.