Praxis Precision Medicines slides after vormatrigine POWER1 trial misses primary endpoint

Praxis Precision Medicines (PRAX) is down 12.8% today. Here is some analysis on what might have caused this price movement.

Analysis: Shares are likely falling after Praxis disclosed that its Phase 2/3 POWER1 study of vormatrigine in focal onset seizures missed its primary endpoint, raising uncertainty about the program’s path forward. Investor sentiment also appeared pressured by the company’s decision to pause enrollment in the follow-on POWER2 study while it reassesses potential modifications.

Details:

Praxis said the POWER1 trial in highly refractory focal onset seizure patients did not meet the primary endpoint of percent change in monthly seizure frequency from baseline.

The company highlighted that a key secondary endpoint (the 50% responder rate) was met, and seizure reduction was more pronounced in the second half of the study at the higher 30 mg dose.

Vormatrigine was generally well-tolerated, with adverse event-related discontinuations under 10%, and about 90% of patients on active drug transitioned to (and remain in) the open-label extension.

Praxis said it is pausing enrollment in the POWER2 study to reassess the overall vormatrigine program and evaluate potential changes, even as it continues advancing other late-stage regulatory and clinical milestones.

Sources:

GlobeNewswire, U.S. Securities and Exchange Commission, Nasdaq

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PRAX Hedge Fund Activity

We have seen 197 institutional investors add shares of $PRAX stock to their portfolio, and 108 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ADAGE CAPITAL PARTNERS GP, L.L.C. removed 1,558,346 shares (-65.6%) from their portfolio in Q1 2026, for an estimated $502,083,497
ORBIS ALLAN GRAY LTD added 1,217,318 shares (+97.0%) to their portfolio in Q1 2026, for an estimated $392,207,686
FMR LLC added 802,268 shares (+59.0%) to their portfolio in Q1 2026, for an estimated $258,482,726
BAKER BROS. ADVISORS LP added 626,710 shares (+55.6%) to their portfolio in Q1 2026, for an estimated $201,919,694
BARCLAYS PLC removed 523,772 shares (-98.7%) from their portfolio in Q1 2026, for an estimated $168,754,100
POINT72 ASSET MANAGEMENT, L.P. removed 492,346 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $158,628,957
JANUS HENDERSON GROUP PLC added 476,227 shares (+17.2%) to their portfolio in Q4 2025, for an estimated $140,363,145

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PRAX Analyst Ratings

Wall Street analysts have issued reports on $PRAX in the last several months. We have seen 6 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

BTIG issued a "Buy" rating on 06/02/2026
Needham issued a "Buy" rating on 02/04/2026
Piper Sandler issued a "Overweight" rating on 01/28/2026
Guggenheim issued a "Buy" rating on 12/09/2025
Jefferies issued a "Buy" rating on 12/09/2025
Wedbush issued a "Underperform" rating on 12/05/2025
HC Wainwright & Co. issued a "Buy" rating on 12/05/2025

To track analyst ratings and price targets for $PRAX, check out Quiver Quantitative's $PRAX forecast page.

$PRAX Price Targets

Multiple analysts have issued price targets for $PRAX recently. We have seen 15 analysts offer price targets for $PRAX in the last 6 months, with a median target of $510.0.

Here are some recent targets:

Kambiz Yazdi from BTIG set a target price of $810.0 on 06/02/2026
Douglas Tsao from HC Wainwright & Co. set a target price of $1201.0 on 06/02/2026
David Hoang from Deutsche Bank set a target price of $374.0 on 06/02/2026
Laura Chico from Wedbush set a target price of $162.0 on 06/02/2026
Joel Beatty from Baird set a target price of $400.0 on 06/02/2026
Danielle Brill from Truist Securities set a target price of $715.0 on 05/13/2026
Ami Fadia from Needham set a target price of $510.0 on 04/14/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.