Praxis Precision Medicines Inc. (NASDAQ: PRAX)’s stock price has increased by 2.73 compared to its previous closing price of 1.10. Despite this, the company has seen a gain of 10.78% in its stock price over the last five trading days.
Is It Worth Investing in Praxis Precision Medicines Inc. (NASDAQ: PRAX) Right Now?
Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Praxis Precision Medicines Inc. (PRAX) is $10.30, which is $8.25 above the current market price. The public float for PRAX is 46.80M, and currently, short sellers hold a 6.90% ratio of that floaft. The average trading volume of PRAX on March 15, 2023 was 1.96M shares.
PRAX’s Market Performance
PRAX’s stock has seen a 10.78% increase for the week, with a -71.32% drop in the past month and a -45.67% fall in the past quarter. The volatility ratio for the week is 8.02%, and the volatility levels for the past 30 days are at 10.43% for Praxis Precision Medicines Inc. The simple moving average for the last 20 days is -56.14% for PRAX stock, with a simple moving average of -62.39% for the last 200 days.
Analysts’ Opinion of PRAX
Many brokerage firms have already submitted their reports for PRAX stocks, with Wedbush repeating the rating for PRAX by listing it as a “Neutral.” The predicted price for PRAX in the upcoming period, according to Wedbush is $4 based on the research report published on June 06th of the previous year 2022.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see PRAX reach a price target of $48. The rating they have provided for PRAX stocks is “Buy” according to the report published on December 16th, 2021.
BofA Securities gave a rating of “Buy” to PRAX, setting the target price at $28 in the report published on August 26th of the previous year.
PRAX Trading at -65.94% from the 50-Day Moving Average
After a stumble in the market that brought PRAX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -91.52% of loss for the given period.
Volatility was left at 10.43%, however, over the last 30 days, the volatility rate increased by 8.02%, as shares sank -69.38% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -53.31% lower at present.
During the last 5 trading sessions, PRAX rose by +10.78%, which changed the moving average for the period of 200-days by -87.22% in comparison to the 20-day moving average, which settled at $2.4486. In addition, Praxis Precision Medicines Inc. saw -52.52% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PRAX starting from Mastrocola Lauren, who purchase 3,000 shares at the price of $1.93 back on Jun 16. After this action, Mastrocola Lauren now owns 31,391 shares of Praxis Precision Medicines Inc., valued at $5,775 using the latest closing price.
Nemiroff Alex, the General Counsel and Secretary of Praxis Precision Medicines Inc., purchase 7,500 shares at $1.63 during a trade that took place back on Jun 13, which means that Nemiroff Alex is holding 39,347 shares at $12,225 based on the most recent closing price.
Stock Fundamentals for PRAX
Equity return is now at value -167.50, with -127.40 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 3.23.
Conclusion
In a nutshell, Praxis Precision Medicines Inc. (PRAX) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
