PRAX Stock Summary and Trading Ideas (Praxis Precision Medicines | NASDAQ:PRAX)

Praxis Precision Medicines Inc is a clinical-stage biopharmaceutical company. The firm is engaged in translating genetic insights into the development of therapies for patients affected by central nervous system disorders characterized by a neuronal excitation-inhibition imbalance. The firm's pipeline covers PRAX-114, for the treatment of a broad range of patients suffering from major depressive disorder and post-traumatic stress disorder; PRAX-944, for the treatment of Essential Tremor and Parkinson's Disease; PRAX-562, and PRAX-222, among others.

Praxis Precision Medicines trades on the NASDAQ stock market under the symbol PRAX.

As of December 13, 2024, PRAX stock price declined to $70.18 with 178,351 million shares trading.

PRAX has a beta of 1.55, meaning it tends to be more sensitive to market movements. PRAX has a correlation of 0.04 to the broad based SPY ETF.

PRAX has a market cap of $1.31 billion. This is considered a Small Cap stock.

Last quarter Praxis Precision Medicines reported $302,000 in Revenue and -$2.75 earnings per share. This beat revenue expectation by $2,000 and missed earnings estimates by -$.76.

In the last 3 years, PRAX traded as high as $312.75 and as low as $11.85.

The top ETF exchange traded funds that PRAX belongs to (by Net Assets): VTI, IWM, XBI, VXF, IWO.

PRAX has outperformed the market in the last year with a return of +318.7%, while the SPY ETF gained +29.9%. In the last 3 month period, PRAX beat the market returning +17.2%, while SPY returned +7.8%. However, in the most recent 2 weeks PRAX has underperformed the stock market by returning -12.5%, while SPY returned +0.3%.

PRAX support price is $67.74 and resistance is $74.26 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PRAX shares will trade within this expected range on the day.