Praxis Precision Medicines Inc. (NASDAQ:PRAX) price on Friday, March 17, fall -9.65% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.03.
A look at the stock’s price movement, the close in the last trading session was $1.14, moving within a range at $1.025 and $1.15. The beta value (5-Year monthly) was 3.14. Turning to its 52-week performance, $13.33 and $0.98 were the 52-week high and 52-week low respectively. Overall, PRAX moved -72.16% over the past month.
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Praxis Precision Medicines Inc.’s market cap currently stands at around $52.96 million, with investors looking forward to this quarter’s earnings report slated for May 08, 2023 – May 12, 2023. Analysts project the company’s earnings per share (EPS) to be -$0.78, which has seen fiscal year 2023 EPS growth forecast to increase to -$2.87 and about -$2.77 for fiscal year 2024. Per the data, EPS growth is expected to be 38.10% for 2023 and 3.50% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that PRAX is a 100% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
PRAX’s current price about -53.04% and -68.19% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 19.33, while 7-day volatility ratio is 8.05% and 10.43% in the 30-day chart. Further, Praxis Precision Medicines Inc. (PRAX) has a beta value of 0, and an average true range (ATR) of 0.24.
In the market, a comparison of Praxis Precision Medicines Inc. (PRAX) and its peers suggest the former has performed considerably weaker. Data shows PRAX’s intraday price has changed -9.65% in last session and -90.35% over the past year. Comparatively, Moderna Inc. (MRNA) has moved -1.16% on the day and only -11.42% in the past 12 months. Moreover, Jazz Pharmaceuticals plc (JAZZ) is also down -1.52% in trading on the day while keeping a a downtrend of -14.65% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.
If we refocus on Praxis Precision Medicines Inc. (NASDAQ:PRAX), historical trading data shows that trading volumes averaged 2.99 million over the past 10 days and 1.99 million over the past 3 months. The company’s latest data on shares outstanding shows there are 47.61 million shares.
The 0.60% of Praxis Precision Medicines Inc.’s shares are in the hands of company insiders while institutional holders own 90.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.14 million on Jan 12, 2023, giving us a short ratio of 1.58. The data shows that as of Jan 12, 2023 short interest in Praxis Precision Medicines Inc. (PRAX) stood at 4.54% of shares outstanding, with shares short rising to 1.91 million registered in Dec 14, 2022. Current price change has pushed the stock -56.72% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PRAX stock continues to rise going into the next quarter.