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Alex Nemiroff, General Counsel and Secretary at Praxis Precision Medicines, Inc. (NASDAQ:PRAX), sold 24,130 shares of common stock on November 20, 2025, for approximately $4.8 million. The sales were executed at prices ranging from $190.863 to $194.3 per share. The transaction comes as PRAX shares trade at $169.80, down about 9% over the past week but up an impressive 343% over the last six months. According to InvestingPro analysis, the stock appears slightly overvalued compared to its Fair Value.
On the same day, Nemiroff also exercised options to acquire a total of 25,130 shares of Praxis Precision Medicines’ common stock at various prices: 1,714 shares at $83.85, 6,230 shares at $133.65, 2,434 shares at $44.40, 5,652 shares at $44.40 and 9,100 shares at $56.94, for a total value of $1,853,530. The biotech company, currently valued at $4.27 billion, has seen its stock trade with high volatility this year, moving from a 52-week low of $26.70 to a high of $206.71.
Following these transactions, Nemiroff directly owns 20,831.667 shares of Praxis Precision Medicines. Despite not being profitable over the last twelve months, PRAX maintains a strong financial position with liquid assets exceeding short-term obligations and operates with moderate debt levels. InvestingPro data reveals 15 additional investment insights for PRAX, including analyst projections and detailed financial health metrics.
In other recent news, Praxis Precision Medicines announced the pricing of its $525 million public offering, which includes over three million shares of common stock and pre-funded warrants. The company has reached an agreement with the FDA on the development pathway for its drug relutrigine, aimed at treating rare epilepsies, with plans for an interim analysis in 2025 that could lead to a New Drug Application in 2026. Guggenheim has raised its price target for Praxis to $540, citing progress in the company’s central nervous system drug candidates, including ulixacaltamide for Essential Tremor, which could represent a significant sales opportunity. Meanwhile, a short report from Culper Research has criticized Praxis’s Phase 3 trial results for ulixacaltamide, alleging methodological issues and unapproved changes. Despite this, Praxis is preparing for an FDA meeting to discuss a potential NDA filing for the drug. Piper Sandler has noted a positive trend in the biotech sector, highlighting several stocks, though Praxis was not specifically mentioned among them. These developments reflect a mix of progress and challenges for Praxis Precision Medicines in its ongoing efforts.
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