At the last check on Thursday, Praxis Precision Medicines Inc.’s (NASDAQ:PRAX) stock was up $0.09, moving up 7.96 percent to $1.22. The average number of shares traded per day over the past five days has been 853,993 shares. 4 times new highs have been achieved over the past 5 days, with a $0.1300 gain in that time frame. In the last twenty days, the average volume was 507,468, while in the previous 50 days, it was 1,036,711.
Since last month, PRAX stock rose 6.09%. Shares of the company fell to $0.8500 on 07/27/23, the lowest level in the past month. A 52-week high of $5.25 was reached on 01/13/23 after having rallying from a 52-week low of $0.79. Since the beginning of this year, PRAX’s stock price has dropped by -48.74% or -$1.1800, and marked a new high 6 times. However, the stock has declined by -76.76% since its 52-week high.
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PRAX stock investors should be aware that Praxis Precision Medicines Inc. (PRAX) stock had its last reported insider trading activity 51 days ago on Jun 27. Souza Marcio, the Chief Executive Officer of the company, purchased of 10,000 shares for $1.06 on Jun 27. It resulted in a $10,587 investment by the insider. MITCHELL DEAN J added 50,000 shares at an average price of $0.84 on Mar 24. The insider now owns 75,000 shares following the transaction. On Mar 23, Chief Executive Officer Souza Marcio bought 35,002 shares at $0.86 apiece. The transaction was valued at $30,207.
Valuation Metrics
The stock’s beta is 2.94. Besides these, the trailing price-to-sales (P/S) ratio of 94.35, the price-to-book (PB) ratio of 0.81.
Financial Health
In the three months ended June 29, Praxis Precision Medicines Inc.’s quick ratio stood at 5.30, while its current ratio was 5.30, showing that the company is able to pay off its debt.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PRAX’s revenue rose 100.0% to $0.68 million during the quarter, while net income inched up to $0.78 million. While analysts expected Praxis Precision Medicines Inc. to report -$0.65 quarterly earnings, the actual figure was -$0.49 per share, beating the consensus estimate by 24.60%. During the quarter, the company generated -$34.85 million in EBITDA. The liabilities of Praxis Precision Medicines Inc. were 27.87 million at the end of its most recent quarter ended June 29, and its total debt was $3.01 million. The value of shareholders’ equity is $128.54 million.
Technical Picture
This quick technical analysis looks at Praxis Precision Medicines Inc.’s (PRAX) price momentum. With a historical volatility rate of 64.14%, the RSI 9-day stood at 71.06% on 16 August.
With respect to its five-day moving average, the current Praxis Precision Medicines Inc. price is up by +12.15% percent or $0.1300. At present, PRAX shares trade +10.09% above its 20-day simple moving average and +46.86% percent above its 100-day simple moving average. However, the stock is currently trading approximately +13.21% above its SMA50 and -39.39% below its SMA200.
Stochastic coefficient K was 92.52% and Stochastic coefficient D was 91.18%, while ATR was 0.1031. Given the Stochastic reading of 94.44% for the 14-day period, the RSI (14) reading has been calculated as 62.71%. As of today, the MACD Oscillator reading stands at 0.0823, while the 14-day reading stands at 0.1143.
Analyst Ratings
Praxis Precision Medicines Inc. downgraded its rating on Praxis Precision Medicines Inc. (NASDAQ: PRAX) to a Neutral in a note to investors on June 06, 2022. The analysts firm previously had an Outperform rating on the stock.Praxis Precision Medicines Inc. (PRAX) has been rated Buy by analysts. According to 0 brokerage firms, PRAX is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Praxis Precision Medicines Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $5.50, the current consensus forecast for the stock is $2.00 – $18.00. Based on these forecasts, analysts predict Praxis Precision Medicines Inc. (PRAX) will achieve an average price target of $7.75.
