Praxis Stock Surges 320% as One Biotech Investor's Buy Pushes Stake to Nearly $600 Million
Key Points
Perceptive Advisors purchased 431,432 Praxis Precision Medicines shares in the fourth quarter; the estimated trade size was $80.34 million (based on the mean unadjusted close for the quarter).
Meanwhile, the quarter-end position value rose by $505.38 million, reflecting both trading activity and stock price appreciation.
The post-trade holding stands at 1,995,986 shares valued at $588.30 million.
The position now constitutes 10.49% of the fund's reportable U.S. equity assets, making it the fund's single largest holding as of the December 31, 2025, filing.
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On February 17, 2026, Perceptive Advisors disclosed a significant buy of 431,432 shares of Praxis Precision Medicines (NASDAQ:PRAX), with an estimated transaction value of $80.34 million based on quarterly average pricing, according to its latest SEC filing.
What happened
According to a February 17, 2026, SEC filing, Perceptive Advisors LLC increased its stake in Praxis Precision Medicines (NASDAQ:PRAX) by 431,432 shares during the fourth quarter of 2025. The estimated value of this trade was approximately $80.34 million, calculated using the mean unadjusted close price for the period. The quarter-end value of the position increased by $505.38 million, reflecting both the share purchase and subsequent stock price movement.
What else to know
- Top five holdings after the filing:
- NASDAQ:PRAX: $588.30 million (10.8% of AUM)
- NASDAQ:CELC: $315.20 million (5.8% of AUM)
- NASDAQ:RYTM: $272.57 million (5.0% of AUM)
- NASDAQ:ASND: $230.60 million (4.2% of AUM)
- NASDAQ:APGE: $175.92 million (3.2% of AUM)
- As of February 17, 2026, Praxis Precision Medicines shares were priced at $328.04, up a steep 320% over the prior year.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $328.04 |
| Revenue (TTM) | $7.46 million |
| Net income (TTM) | ($273.04 million) |
Company snapshot
- Praxis Precision Medicines develops clinical-stage therapies for central nervous system disorders, with a pipeline including PRAX-114 for major depressive disorder and PRAX-944 for essential tremor
- The firm operates a biopharmaceutical business model focused on research, clinical development, and out-licensing or commercialization of proprietary drug candidates
- It targets healthcare providers, specialists in neurology and psychiatry, and patients with neurological and psychiatric conditions
Praxis Precision Medicines is a Boston-based biotechnology company specializing in the development of novel therapies for disorders characterized by neuronal imbalance. With a focused pipeline addressing major depressive disorder, essential tremor, and rare epilepsies, the company leverages proprietary research and strategic collaborations to advance its candidates through clinical stages. Praxis differentiates itself through its emphasis on precision medicine and targeted central nervous system treatments, aiming to address unmet medical needs in neurology and psychiatry.
What this transaction means for investors
When a biotech crosses from pipeline story to pending commercial launch, portfolio weightings tend to change fast, and that is exactly what is happening here.
Praxis has now submitted two NDAs to the FDA, one for ulixacaltamide in essential tremor and the other for relutrigine in SCN2A and SCN8A DEEs. Management is openly preparing for commercialization and scaling inventory ahead of potential approvals. The company ended 2025 with $926 million in cash and investments and added $621 million in January financing, extending its runway into 2028.
That balance sheet matters. It gives Praxis flexibility to launch without immediately returning to capital markets. Meanwhile, research and development spending climbed to $267 million for 2025, reflecting a late-stage push across multiple programs.
At 11% of assets, this is the largest disclosed holding. It sits well ahead of Celcuity and Rhythm, reinforcing a preference for CNS and specialty biotech with near-term catalysts. Long-term investors should focus less on the 320% one-year move and more on execution risk. Two NDAs, Phase 3 readouts in 2026, and a defined cash runway create a high-upside setup, but for a firm with lofty expectations.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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