Driehaus Capital Management 13F: Adds $5.7M to PRAX Stake

Driehaus Capital Management has increased its stake in Praxis Precision Medicines, Inc. (NasdaqGS: PRAX) by 1.73%, according to its latest 13F filing with the SEC. The fund added 16,164 shares, bringing its total to 949,225 shares, valued at approximately $253 million as of the reporting period.

What Changed in Driehaus Capital Management's Praxis Precision Medicines Position

Driehaus Capital Management's decision to boost its holdings in Praxis Precision Medicines resulted in a 1.73% increase in its position. The fund now holds 949,225 shares, up from 933,061 shares previously. This adjustment reflects an addition of 16,164 shares, reaffirming the fund's interest in the company.

Other Institutional Activity in Praxis Precision Medicines

Several other institutional investors also adjusted their positions in Praxis Precision Medicines. Janus Henderson Group PLC added 218,777 shares, now holding 3,458,863 shares valued at about $1.11 billion. Orbis Allan Gray Ltd significantly increased its stake by 1,217,318 shares, ending with 2,472,480 shares worth approximately $796.6 million. BlackRock, Inc. grew its holdings by 246,429 shares to a total of 2,324,929 shares valued at $749.1 million. FMR LLC added 802,268 shares, bringing its total to 2,160,943 shares valued at $696.2 million. Perceptive Advisors LLC and Baker Bros. Advisors LP also increased their positions, with the latter adding 626,710 shares.

Praxis Precision Medicines, Inc. Stock Up 17.3%

Shares of Praxis Precision Medicines traded near $266.58. The company boasts a market cap of $7.43 billion. Its forward P/E ratio isn't meaningful as the company isn't currently profitable, and it has a beta of 2.749. The stock's 52-week range is between $37.19 and $366.52, with a 50-day moving average of $319.49 and a 200-day moving average of $240.85. The company's financial health is indicated by a current ratio of 15.879 and a quick ratio of 15.662, with a debt-to-equity ratio of 0.102.

Recent Earnings

Praxis Precision Medicines has reported a negative EPS of $-13.38, with no positive net margin or return on equity, indicating ongoing development and investment rather than profitability. The next earnings report is scheduled for August 10, 2026.

Insider Buying and Selling at Praxis Precision Medicines, Inc.

On June 10, 2026, several insiders, including Mitchell Dean and William Young, purchased shares of Praxis Precision Medicines. Each insider bought between 648 and 1,371 shares in transactions that were not part of a pre-planned trading program.

Analysts Set New Price Targets

On June 2, 2026, several analysts maintained their ratings on Praxis Precision Medicines. Oppenheimer, Truist Securities, and Deutsche Bank all maintained buy ratings with price targets of $650, $616, and $374, respectively. Wedbush maintained a sell rating with a $162 target, while HC Wainwright & Co. reiterated its buy rating with an ambitious $1,245 target. The consensus among 17 analysts is a strong buy, with a mean price target of $627.59.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc. is a clinical-stage biopharmaceutical company based in Boston, Massachusetts. It focuses on developing therapies for central nervous system disorders. The company utilizes its Cerebrum platform to create small molecule therapies and Solidus for antisense oligonucleotide development. Praxis is advancing several candidates, including treatments for epilepsy and essential tremor, with some in late-stage clinical trials.

Bottom Line

Driehaus Capital Management's increased stake in Praxis Precision Medicines reflects continued interest in the company's potential. This 13F filing, which is backward-looking, provides a snapshot of the fund's position as of the reporting period. Investors often track such moves for insights into institutional confidence and market trends.