Sphera Funds Cuts Praxis Precision Medicines Stake to 0.6%
Ticker: PRAX · Form: SC 13G/A · Filed: Feb 5, 2024 · CIK: 1689548
| Field | Detail |
|---|---|
| Company | Praxis Precision Medicines, Inc. (PRAX) |
| Form Type | SC 13G/A |
| Filed Date | Feb 5, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, amendment, pharmaceuticals
TL;DR
**Sphera Funds slashed its PRAX stake to 0.6%, watch out for institutional exits.**
AI Summary
Sphera Funds Management Ltd. has updated its ownership stake in Praxis Precision Medicines, Inc. (PRAX) as of December 31, 2023. The Israeli investment firm now beneficially owns 328,980 shares of PRAX common stock, representing 0.6% of the company's outstanding shares. This is an amendment to a previous filing, indicating a change in their holdings, which matters to investors as it shows a significant institutional investor's reduced confidence or strategic shift in the pharmaceutical company.
Why It Matters
This filing shows a major institutional investor, Sphera Funds Management Ltd., has significantly reduced its stake in Praxis Precision Medicines, Inc., which could signal a lack of confidence in the company's future prospects.
Risk Assessment
Risk Level: medium — A notable reduction in ownership by an institutional investor like Sphera Funds Management Ltd. can indicate potential concerns about the company's performance or outlook, posing a medium risk to current and prospective investors.
Analyst Insight
A smart investor would investigate the reasons behind Sphera Funds Management Ltd.'s significant reduction in its stake in Praxis Precision Medicines, Inc. and consider if this signals underlying issues before making further investment decisions.
Key Numbers
- 328,980 — Shares Owned (The number of Praxis Precision Medicines shares Sphera Funds Management Ltd. beneficially owns.)
- 0.6% — Ownership Percentage (The percentage of Praxis Precision Medicines' common stock owned by Sphera Funds Management Ltd., indicating a significant reduction from previous filings.)
- December 31, 2023 — Reporting Date (The date as of which the ownership stake is reported, providing a recent snapshot of institutional holdings.)
Key Players & Entities
- Sphera Funds Management Ltd. (company) — the reporting person, an Israeli investment firm
- Praxis Precision Medicines, Inc. (company) — the subject company, a pharmaceutical preparations company
- 328,980 (dollar_amount) — number of shares beneficially owned by Sphera Funds Management Ltd.
- 0.6% (dollar_amount) — percentage of common stock owned by Sphera Funds Management Ltd.
- December 31, 2023 (date) — date of the event requiring the filing
Forward-Looking Statements
- Other institutional investors may follow Sphera Funds' lead and reduce their holdings in Praxis Precision Medicines. (Praxis Precision Medicines, Inc.) — medium confidence, target: Q1 2024
- Praxis Precision Medicines' stock price could experience downward pressure due to reduced institutional confidence. (Praxis Precision Medicines, Inc.) — medium confidence, target: Q1 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 2) by Sphera Funds Management Ltd. to update its beneficial ownership of common stock in Praxis Precision Medicines, Inc. as of December 31, 2023, as required by Rule 13d-1(c).
How many shares of Praxis Precision Medicines, Inc. does Sphera Funds Management Ltd. beneficially own?
Sphera Funds Management Ltd. beneficially owns 328,980 shares of common stock in Praxis Precision Medicines, Inc. as of December 31, 2023, as stated on page 2 of the filing.
What percentage of Praxis Precision Medicines, Inc.'s common stock does Sphera Funds Management Ltd. now own?
Sphera Funds Management Ltd. now owns 0.6% of the common stock of Praxis Precision Medicines, Inc., as indicated in the filing's summary of beneficial ownership.
What is the CUSIP number for Praxis Precision Medicines, Inc. common stock?
The CUSIP number for Praxis Precision Medicines, Inc. common stock is 74006W108, as listed on the cover page of the Schedule 13G filing.
Where is Sphera Funds Management Ltd. organized?
Sphera Funds Management Ltd. is organized in Israel, as stated under 'CITIZENSHIP OR PLACE OF ORGANIZATION' on page 2 of the filing.
Filing Stats: 1,560 words · 6 min read · ~5 pages · Grade level 12.4 · Accepted 2024-02-05 09:13:40
Key Financial Figures
- $0.0001 — ame of Issuer) Common stock, par value $0.0001 per share (Title of Class of Securiti
Filing Documents
- zk2430879.htm (SC 13G/A) — 92KB
- 0001178913-24-000363.txt ( ) — 93KB
(a)
Item 1. (a) Name of Issuer : Praxis Precision Medicines, Inc. (b) Address of Issuer's Principal Executive Offices : 99 High Street, 30th Floor, Boston, MA 02110
(a)
Item 2. (a) Name of Person Filing : Sphera Funds Management Ltd. Sphera Global Healthcare GP Ltd. Sphera Global Healthcare Management LP (b) Address of Principal Business Office : Sphera Funds Management Ltd. – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel Sphera Global Healthcare GP Ltd. – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel Sphera Global Healthcare Management LP – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel (c) Citizenship : Sphera Funds Management Ltd. – Israel Sphera Global Healthcare GP Ltd. – Israel Sphera Global Healthcare Management LP – Israel (d) Title of Class of Securities : Common Stock, par value $0.0001 per share (e) CUSIP Number : 74006W108 Item 3 . Not applicable. Item 4 . (a) Amount beneficially owned : See row 9 of cover page of each reporting person. 5 The securities reported herein by Sphera Funds Management Ltd., Sphera Global Healthcare GP Ltd. and Sphera Global Healthcare Management LP are beneficially owned as follows: 80,645 shares of Common Stock representing a total of 0.92% of the total shares of Common Stock outstanding are held directly by Sphera Global Healthcare Master Fund, which has delegated its investment management authority to Sphera Global Healthcare Management LP (the " Management Company "). 248,341 shares of Common Stock representing a total of 2.82% of the total shares of Common Stock outstanding, are held directly by Sphera Biotech Master Fund, L.P., which has delegated its investment management authority to the Management Company. The Management Company is managed, controlled, and operated by its general partner, Sphera Global Healthcare GP Ltd., the shares of which are owned 90% by Sphera Funds Management Ltd. This Statement shall not be construed as an admission by any of the Reporting Persons that it is the beneficial owner of any of the securities covered by this Statement, and each Reporting