Adage Capital Partners Divests Praxis Precision Medicines Stake

TL;DR

**Adage Capital Partners dumped their Praxis Precision Medicines shares.**

AI Summary

Adage Capital Partners, L.P. filed an amended SC 13G/A on February 7, 2024, indicating a change in their beneficial ownership of Praxis Precision Medicines, Inc. common stock as of December 31, 2023. The filing shows Adage Capital Partners, L.P. now holds 0 shares with sole voting power, a significant reduction from their previous holdings. This matters to investors because a major institutional investor has divested its stake, which could signal a lack of confidence in the company's future prospects.

Why It Matters

This filing shows a major institutional investor, Adage Capital Partners, L.P., has reduced its beneficial ownership in Praxis Precision Medicines, Inc. to zero shares with sole voting power, which could be interpreted negatively by the market.

Risk Assessment

Risk Level: medium — The complete divestment by a large institutional investor like Adage Capital Partners could indicate underlying concerns about Praxis Precision Medicines, Inc., posing a medium risk to current and prospective shareholders.

Analyst Insight

A smart investor would investigate the reasons behind Adage Capital Partners' complete divestment from Praxis Precision Medicines, Inc. and consider if this signals a fundamental issue before making any investment decisions.

Key Numbers

• 0 — Sole Voting Power Shares (Adage Capital Partners, L.P. now holds zero shares with sole voting power in Praxis Precision Medicines, Inc.)
• December 31, 2023 — Date of Event (The date on which the change in beneficial ownership occurred, requiring this filing.)
• 74006W207 — CUSIP Number (Identifier for Praxis Precision Medicines, Inc. common stock.)

Key Players & Entities

• Adage Capital Partners, L.P. (company) — the reporting person who filed the SC 13G/A
• Praxis Precision Medicines, Inc. (company) — the issuer of the securities
• Delaware (company) — place of organization for Adage Capital Partners, L.P.
• 0 (dollar_amount) — number of shares with sole voting power beneficially owned by Adage Capital Partners, L.P.

Forward-Looking Statements

• Praxis Precision Medicines, Inc. stock price may experience downward pressure due to the institutional divestment. (Praxis Precision Medicines, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie

Filing Documents

• p24-0330sc13ga.htm (SC 13G/A) — 92KB
• 0000902664-24-001176.txt ( ) — 94KB

(a)

Item 1(a). NAME OF ISSUER The name of the issuer is Praxis Precision Medicines, Inc. (the “ Company ”).

(b)

Item 1(b). ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES The Company’s principal executive offices are located at 99 High Street, 30th Floor, Boston, Massachusetts 02110.

(a)

Item 2(a). NAME OF PERSON FILING This statement is filed by: (i) Adage Capital Partners, L.P., a Delaware limited partnership (“ ACP ”) with respect to the Common Stock directly owned by it; (ii) Adage Capital Partners GP, L.L.C., a limited liability company organized under the laws of the State of Delaware (“ ACPGP ”), as general partner of ACP with respect to the Common Stock directly owned by ACP; (iii) Adage Capital Management, L.P., a Delaware limited partnership (“ ACM ”), as the investment manager of ACP, with respect to the Common Stock directly owned by ACP; (iv) Robert Atchinson (“ Mr. Atchinson ”), as (1) managing member of Adage Capital Advisors, L.L.C., a limited liability company organized under the laws of the State of Delaware (“ ACA ”), managing member of ACPGP and (2) managing member of Adage Capital Partners LLC, a Delaware limited liability company (“ ACPLLC ”), general partner of ACM, with respect to the Common Stock directly owned by ACP; and (v) Phillip Gross (“ Mr. Gross ”), as (1) managing member of ACA, managing member of ACPGP and (2) managing member of ACPLLC, general partner of ACM, with respect to the Common Stock directly owned by ACP. The foregoing persons are hereinafter sometimes collectively referred to as the “ Reporting Persons .” Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of the securities reported herein.

(b)

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE The address of the business office of each of the Reporting Persons is 200 Clarendon Street, 52nd Floor, Boston, Massachusetts 02116.

(c)

Item 2(c). CITIZENSHIP ACP and ACM are limited partnerships organized under the laws of the State of Delaware. ACPGP is a limited liability company organized under the laws of the State of Delaware. Messrs. Gross and Atchinson are citizens of the United States. CUSIP No. 74006W207 13G/A Page 8 of 10 Pages

(d)

Item 2(d). TITLE OF CLASS OF SECURITIES Common Stock, par value $0.0001 per share (the “ Common Stock ”).

(e)

Item 2(e). CUSIP NUMBER 74006W207 Item 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under Section 15 of the Act; (b) Bank as defined in Section 3(a)(6) of the Act; (c) Insurance company as defined in Section 3(a)(19) of the Act; (d) Investment company registered under Section 8 of the Investment Company Act of 1940; (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: Not applicable . Item 4. The information required by Items 4(a) – (c) is set forth in Rows (5) – (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The percentage set forth in this Schedule 13G/A is calculated based upon 8,791,877 shares of Common Stock outstanding as of December 31, 2023, as reported in the Company's Prospectus filed pursuant to Rule 424(b)(5) with the Securities and Exchange Commission on January 12, 2024. CUSIP No. 74006W207 13G/A Page 9 of 10 Pages Item 5. Not applicable. Item 6. Not applicable. Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSID

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATE: February 7, 2024 ADAGE CAPITAL PARTNERS, L.P. By: Adage Capital Partners GP, L.L.C., its general partner By: Adage Capital Advisors, L.L.C., its managing member /s/ Robert Atchinson Name: Robert Atchinson Title: Managing Member ADAGE CAPITAL PARTNERS GP, L.L.C. By: Adage Capital Advisors, L.L.C., its managing member /s/ Robert Atchinson Name: Robert Atchinson Title: Managing Member ADAGE CAPITAL MANAGEMENT, L.P. By: Adage Capital Partners LLC, its general partner /s/ Robert Atchinson Name: Robert Atchinson Title: Managing Member /s/ Robert Atchinson ROBERT ATCHINSON, individually /s/ Phillip Gross PHILLIP GROSS, individually

View Full Filing

View this SC 13G/A filing on SEC EDGAR