Baker Bros. Advisors LP Reports New 6.3% Stake in Praxis Precision Medicines

On May 15, 2026, Baker Bros. Advisors LP, along with its general partner Baker Bros. Advisors (GP) LLC and Julian C. and Felix J. Baker, filed a Schedule 13G reporting a new 6.3% stake in Praxis Precision Medicines, Inc. (PRAX). The reporting persons collectively hold 1,753,198 shares of Common Stock as of the event date of March 31, 2026. This position is held through two primary funds: Baker Brothers Life Sciences, L.P., which holds 1,622,127 shares (5.8%), and 667, L.P., which holds 131,071 shares (0.5%). The filing also notes that the funds hold pre-funded warrants; however, these are currently subject to a 4.99% blocker, preventing exercise if it would cause the holder to exceed that ownership threshold. The reporting persons have certified that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer. The calculation is based on 27,859,514 shares of Common Stock outstanding as of March 31, 2026.