Last night, the stock was down -0.57% to $51.89 at the close. The year to date performance of PRAX is -5.69%. According to the charts, the stock’s price fell by -4.24% over the past week and -7.04% over the past month.
Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on making treatments for neurological disorders characterized by neural imbalance at the genetic level. Praxis uses insights into genetic mutations and excitation-inhibition imbalance to identify relevant biological targets that can treat widespread psychiatric and neurologic diseases, as well as severe pediatric epilepsies.
There’s no apparent reason for this stock’s slip besides “restless investors.” So far this month, the only sustained news that has directly affected stocks is the announcement on Jan. 07, 2021, that the FDA has granted PRAX-222 both rare pediatric disease and orphan drug designations for the treatment of SCN2A-DEE. Additionally, the FDA awarded PRAX-562 rare pediatric disease designations for treating SCN2A developmental and epileptic encephalopathy and SCN8A developmental and epileptic encephalopathy.
In Dec. 2020, Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced that Stuart Chaffee, Ph.D., will complete his transition from the Company’s chief financial officer and will now take on a part-time role as a strategic advisor. The Company has begun a search for a full-time chief financial officer. Its vice president of finance and principal accounting officer, Lauren Mastrocola, will act as an interim chief financial officer.
Statistics from the Securities and Exchange Commission (SEC) show insiders at the Company have transacted a total of 18 times during the last 12 months, resulting in 20,814,183 shares being bought. Insider trading often reveals the stock’s strength and prospects; then, investors use this information to align their investments accordingly.