Affinity Asset Advisors Acquires New Stake in Praxis Precision Medicines
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 14 2026
0mins
Source: Fool
- New Investment Disclosure: On February 13, 2026, Affinity Asset Advisors disclosed a new position by acquiring 185,000 shares of Praxis Precision Medicines in an estimated $54.53 million trade, indicating strong confidence in the company's future potential.
- Significant Stake: This acquisition accounts for 3.11% of Affinity's reportable assets in its 13F filing, reflecting the fund's keen interest in the biotech sector and diversification of its investment portfolio.
- Outstanding Stock Performance: As of February 13, 2026, Praxis shares were priced at $317.25, up 266.1% over the past year, significantly outperforming the S&P 500 by 254.29 percentage points, showcasing strong market recognition of its clinical pipeline.
- Increased R&D Spending: Praxis reported a third-quarter R&D expense of $65.8 million, with a net loss widening to $73.9 million; however, its multiple late-stage projects provide several commercialization opportunities, highlighting the company's potential in drug development.
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Analyst Views on PRAX
Wall Street analysts forecast PRAX stock price to rise
15 Analyst Rating
14 Buy
0 Hold
1 Sell
Strong Buy
Current: 264.750
Low
95.00
Averages
456.71
High
843.00
Current: 264.750
Low
95.00
Averages
456.71
High
843.00
About PRAX
Praxis Precision Medicines, Inc. is an integrated, central nervous system (CNS) precision neuroscience biopharmaceutical company, translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. The Company is applying genetic insights to the discovery and development of therapies for neurological disorders through two platforms. Its platform includes Cerebrum, a small-molecule platform, which utilizes deep understanding of neuronal excitability and neuronal networks and applies a series of computational and experimental tools to develop orally available precision therapies, and Solidus, an antisense oligonucleotide platform, is a targeted precision medicine discovery and development engine anchored on a proprietary, computational methodology. The Company's product candidates include Ulixacaltamide, Vormatrigine, Relutrigine, PRAX-080, Elsunersen, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Wedbush Lowers Praxis Price Target to $162 After POWER1 Miss
- POWER1 Study Failure: Praxis Precision Medicines Inc.'s POWER1 study failed to meet its primary endpoint, prompting Wedbush to lower its 12-month price target from $355 to $162 while maintaining an Underperform rating, reflecting concerns over clinical development uncertainty.
- Need for Dose Adjustment: Although a more pronounced seizure reduction was observed at the 30mg dose, it still did not meet the prespecified endpoint, leading Praxis to pause enrollment in the POWER2 study to reassess potential modifications, indicating a cautious approach to future research directions.
- Positive Outlook for IDEAYA: Wedbush reaffirmed its Outperform rating on IDEAYA Biosciences with a price target of $58, based on positive results from the OptimUM-02 study, which demonstrated significant improvement in progression-free survival with Darovasertib plus Crizotinib compared to the control group.
- Strategic Deal for Edgewise: Edgewise Therapeutics reached a $1.55 billion agreement with Servier to sell all rights to Sevasemten, providing non-dilutive capital to strengthen its financial position and support a strategic focus on cardiac programs.
See More
US Stocks Close at All-Time Highs as AI Investments Surge
- Strong Market Performance: The S&P 500 rose by 0.13%, the Dow Jones by 0.45%, and the Nasdaq 100 by 0.48%, with all three indices reaching new all-time highs, reflecting strong investor confidence in tech stocks amid a surge in AI investments.
- Marvell Technology Soars: Marvell Technology's stock surged over 32% after Nvidia CEO Jensen Huang predicted the company would be the next to achieve a $1 trillion valuation, significantly boosting investor confidence in its future growth prospects.
- Hewlett Packard Enterprise's Strong Earnings: Hewlett Packard Enterprise's stock jumped more than 19% after reporting Q2 adjusted EPS of 79 cents, well above the consensus estimate of 54 cents, and raising its full-year adjusted EPS forecast to $3.35-$3.45, reflecting robust demand driven by AI.
- Labor Market Strength: US April JOLTS job openings unexpectedly rose by 731,000 to a 23-month high of 7.618 million, surpassing expectations of a decline to 6.866 million, indicating resilience in the labor market and further propelling stock market gains.
See More
US Stocks Rise Slightly, Tech Stocks Show Strong Rebound
- Strong Labor Market: US April JOLTS job openings unexpectedly rose by 731,000 to a 23-month high of 7.618 million, surpassing expectations of 6.866 million, indicating labor market resilience and driving stock market gains, particularly in tech stocks.
- Tech Stock Surge: Hewlett-Packard Enterprise (HPE) shares surged over 25% after reporting Q2 adjusted EPS of 79 cents, significantly above the consensus estimate of 54 cents, and raising its full-year adjusted EPS forecast to $3.35-$3.45, reflecting robust growth in AI-driven demand.
- Market Volatility Factors: Despite overall market gains, initial declines occurred due to uncertainty surrounding a US-Iran ceasefire, with oil prices slightly down as President Trump stated negotiations with Iran are progressing “at a rapid pace,” potentially affecting investor sentiment.
- Software Stocks Under Pressure: Intuit (INTU) saw its stock drop over 10% after Goldman Sachs downgraded it to sell with a price target of $276, leading to a broader decline in the software sector, highlighting a divergence in market performance among tech stocks.
See More
US Stocks Dip Slightly Amid Tech Sector Pressure
- Market Weakness: The S&P 500 index fell by 0.20%, the Dow Jones by 0.23%, and the Nasdaq 100 by 0.33%, indicating investor uncertainty regarding the US-Iran ceasefire prospects, which may dampen market confidence.
- Tech Sector Volatility: Software stocks faced declines, with Intuit dropping over 8% following a downgrade from Goldman Sachs, while Hewlett-Packard Enterprise surged over 33% due to soaring AI demand, highlighting a divergence within the tech industry.
- Inflation Expectations Shift: Hawkish comments from Cleveland Fed President raised rate hike expectations, with the 10-year T-note yield dropping to 4.422%, reflecting growing investor concerns about persistent inflation.
- Overseas Market Dynamics: European markets showed mixed results, with Eurozone May CPI rising 3.2% year-on-year, exceeding expectations and indicating signs of economic recovery, while China's stock market rebounded, reflecting the complexities of the global economy.
See More
Praxis Precision Medicines Reports POWER1 Study Failure
- Study Results: Praxis Precision Medicines announced that its Phase 2/3 POWER1 study failed to meet its primary endpoint, although it achieved a 50% response rate on secondary measures in adults with focal onset seizures, indicating some therapeutic potential.
- Drug Tolerability: The company highlighted the favorable tolerability profile of vormatrigine, with adverse event-related discontinuations below 10%, suggesting strong safety performance that may support future clinical applications.
- Trial Enrollment Pause: Praxis has paused enrollments in its POWER2 trial to review the entire program and consider potential modifications to the interventional study, a decision that could impact the company's future R&D progress and market strategy.
- Management Outlook: Despite the disappointing results from POWER1, CEO Marcio Souza expressed encouragement regarding the signals from the higher dose arm, the low discontinuation rate, and the solid safety profile, indicating the company's continued optimism for the drug's long-term development prospects.
See More
Praxis Precision Medicines Reports POWER1 Study Results for Vormatrigine
- Study Results Overview: Praxis Precision Medicines announced topline results from its Phase 2/3 POWER1 study of Vormatrigine in adults with focal onset seizures, where the primary endpoint was not met, yet a 50% responder rate was achieved, indicating enhanced efficacy at the higher dose.
- Patient Response: Approximately 90% of patients receiving Vormatrigine transitioned into the open-label extension study, demonstrating good tolerability with adverse event-related discontinuations under 10%, suggesting a favorable safety profile.
- Study Pause and Future Plans: Praxis confirmed it is pausing enrollment in the POWER2 study to reassess the program and consider potential modifications, while continuing preparations for the planned launches of relutrigine and ulixacaltamide.
- Market Performance Analysis: Praxis's stock traded between $37.19 and $366.52 over the past year, closing at $335.16 on Monday with a 4.23% decline, and dropping 7.51% to $310.00 in pre-market trading, reflecting negative market sentiment following the study results.
See More
Wedbush Lowers Praxis Price Target to $162 After POWER1 Miss
- POWER1 Study Failure: Praxis Precision Medicines Inc.'s POWER1 study failed to meet its primary endpoint, prompting Wedbush to lower its 12-month price target from $355 to $162 while maintaining an Underperform rating, reflecting concerns over clinical development uncertainty.
- Need for Dose Adjustment: Although a more pronounced seizure reduction was observed at the 30mg dose, it still did not meet the prespecified endpoint, leading Praxis to pause enrollment in the POWER2 study to reassess potential modifications, indicating a cautious approach to future research directions.
- Positive Outlook for IDEAYA: Wedbush reaffirmed its Outperform rating on IDEAYA Biosciences with a price target of $58, based on positive results from the OptimUM-02 study, which demonstrated significant improvement in progression-free survival with Darovasertib plus Crizotinib compared to the control group.
- Strategic Deal for Edgewise: Edgewise Therapeutics reached a $1.55 billion agreement with Servier to sell all rights to Sevasemten, providing non-dilutive capital to strengthen its financial position and support a strategic focus on cardiac programs.
See More
US Stocks Close at All-Time Highs as AI Investments Surge
- Strong Market Performance: The S&P 500 rose by 0.13%, the Dow Jones by 0.45%, and the Nasdaq 100 by 0.48%, with all three indices reaching new all-time highs, reflecting strong investor confidence in tech stocks amid a surge in AI investments.
- Marvell Technology Soars: Marvell Technology's stock surged over 32% after Nvidia CEO Jensen Huang predicted the company would be the next to achieve a $1 trillion valuation, significantly boosting investor confidence in its future growth prospects.
- Hewlett Packard Enterprise's Strong Earnings: Hewlett Packard Enterprise's stock jumped more than 19% after reporting Q2 adjusted EPS of 79 cents, well above the consensus estimate of 54 cents, and raising its full-year adjusted EPS forecast to $3.35-$3.45, reflecting robust demand driven by AI.
- Labor Market Strength: US April JOLTS job openings unexpectedly rose by 731,000 to a 23-month high of 7.618 million, surpassing expectations of a decline to 6.866 million, indicating resilience in the labor market and further propelling stock market gains.
See More
US Stocks Rise Slightly, Tech Stocks Show Strong Rebound
- Strong Labor Market: US April JOLTS job openings unexpectedly rose by 731,000 to a 23-month high of 7.618 million, surpassing expectations of 6.866 million, indicating labor market resilience and driving stock market gains, particularly in tech stocks.
- Tech Stock Surge: Hewlett-Packard Enterprise (HPE) shares surged over 25% after reporting Q2 adjusted EPS of 79 cents, significantly above the consensus estimate of 54 cents, and raising its full-year adjusted EPS forecast to $3.35-$3.45, reflecting robust growth in AI-driven demand.
- Market Volatility Factors: Despite overall market gains, initial declines occurred due to uncertainty surrounding a US-Iran ceasefire, with oil prices slightly down as President Trump stated negotiations with Iran are progressing “at a rapid pace,” potentially affecting investor sentiment.
- Software Stocks Under Pressure: Intuit (INTU) saw its stock drop over 10% after Goldman Sachs downgraded it to sell with a price target of $276, leading to a broader decline in the software sector, highlighting a divergence in market performance among tech stocks.
See More
US Stocks Dip Slightly Amid Tech Sector Pressure
- Market Weakness: The S&P 500 index fell by 0.20%, the Dow Jones by 0.23%, and the Nasdaq 100 by 0.33%, indicating investor uncertainty regarding the US-Iran ceasefire prospects, which may dampen market confidence.
- Tech Sector Volatility: Software stocks faced declines, with Intuit dropping over 8% following a downgrade from Goldman Sachs, while Hewlett-Packard Enterprise surged over 33% due to soaring AI demand, highlighting a divergence within the tech industry.
- Inflation Expectations Shift: Hawkish comments from Cleveland Fed President raised rate hike expectations, with the 10-year T-note yield dropping to 4.422%, reflecting growing investor concerns about persistent inflation.
- Overseas Market Dynamics: European markets showed mixed results, with Eurozone May CPI rising 3.2% year-on-year, exceeding expectations and indicating signs of economic recovery, while China's stock market rebounded, reflecting the complexities of the global economy.
See More
Praxis Precision Medicines Reports POWER1 Study Failure
- Study Results: Praxis Precision Medicines announced that its Phase 2/3 POWER1 study failed to meet its primary endpoint, although it achieved a 50% response rate on secondary measures in adults with focal onset seizures, indicating some therapeutic potential.
- Drug Tolerability: The company highlighted the favorable tolerability profile of vormatrigine, with adverse event-related discontinuations below 10%, suggesting strong safety performance that may support future clinical applications.
- Trial Enrollment Pause: Praxis has paused enrollments in its POWER2 trial to review the entire program and consider potential modifications to the interventional study, a decision that could impact the company's future R&D progress and market strategy.
- Management Outlook: Despite the disappointing results from POWER1, CEO Marcio Souza expressed encouragement regarding the signals from the higher dose arm, the low discontinuation rate, and the solid safety profile, indicating the company's continued optimism for the drug's long-term development prospects.
See More
Praxis Precision Medicines Reports POWER1 Study Results for Vormatrigine
- Study Results Overview: Praxis Precision Medicines announced topline results from its Phase 2/3 POWER1 study of Vormatrigine in adults with focal onset seizures, where the primary endpoint was not met, yet a 50% responder rate was achieved, indicating enhanced efficacy at the higher dose.
- Patient Response: Approximately 90% of patients receiving Vormatrigine transitioned into the open-label extension study, demonstrating good tolerability with adverse event-related discontinuations under 10%, suggesting a favorable safety profile.
- Study Pause and Future Plans: Praxis confirmed it is pausing enrollment in the POWER2 study to reassess the program and consider potential modifications, while continuing preparations for the planned launches of relutrigine and ulixacaltamide.
- Market Performance Analysis: Praxis's stock traded between $37.19 and $366.52 over the past year, closing at $335.16 on Monday with a 4.23% decline, and dropping 7.51% to $310.00 in pre-market trading, reflecting negative market sentiment following the study results.
See More
