OrbiMed Advisors PRAX Position
Exited8-Fund ConvergenceOrbiMed Advisors exited their position in Praxis Precision Medicines, Inc. (PRAX) in Q2 2024, after holding the stock for 2 quarters.
The position was first reported in Q1 2024 and has been tracked across 2 quarterly 13F filings.
PRAX is a convergence signal: 8 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 3 readout for 1mg elsunersen in 75 days (Jun 30, 2026), making the timing of OrbiMed's position particularly relevant.
Short interest stands at 13.5% of float with 9.3 days to cover, indicating significant bearish positioning against the stock.
About Praxis Precision Medicines, Inc.
Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in Phase IIa clinical trial for the treatment of major depressive disorder and perimenopausal depression; and PRAX-944, a selective small molecule inhibitor of T-type calcium channels, which is in Phase IIa clinical trial for the treatment of essential tremor. The company is also developing PRAX-562, a persistent sodium current blocker that is in Phase I clinical trial to treat severe pediatric epilepsy and adult cephalgia; PRAX-222, an antisense oligonucleotide (ASO) for patients with gain-of-function (GOF) SCN2A epilepsy; and KCNT1 program for the treatment of KCNT1 GOF epilepsy. It has a cooperation and license agreement with RogCon Inc.; a license agreement with Purdue Neuroscience Company; a research collaboration, option, and license agreement with Ionis Pharmaceuticals, Inc.; and collaboration with The Florey Institute to develop three novel ASOs. The company was incorporated in 2015 and is based in Boston, Massachusetts.
Full company profile →Short Interest
13.5%
9.3 days to cover
OrbiMed Advisors PRAX Position History
Frequently Asked Questions
Does OrbiMed Advisors own PRAX?
No. OrbiMed Advisors exited their position in Praxis Precision Medicines, Inc. (PRAX) in Q2 2024. They previously held the stock for 2 quarters.
How many hedge funds own PRAX?
8 specialist biotech hedge funds currently hold PRAX, including Perceptive Advisors, Baker Bros. Advisors, Cormorant Asset Management and 5 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did OrbiMed Advisors first buy PRAX?
OrbiMed Advisors's position in PRAX was first reported in Q1 2024. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is OrbiMed Advisors's PRAX position increasing or decreasing?
OrbiMed Advisors completely exited their PRAX position in the most recent quarter.
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