[Form 4] Praxis Precision Medicines, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Praxis Precision Medicines (PRAX): insider transaction reported. Affiliated entities of Adage Capital reported multiple open‑market sales of Common Stock on 10/16/2025 across several tranches at weighted‑average prices ranging from $90.0025 to $140.0000. One disclosed tranche was 250,000 shares at $104.3095.

Following these sales, the reporting persons beneficially owned 2,060,175 PRAX shares indirectly. The securities are held by Adage Capital Partners, L.P., with Adage Capital Management, L.P. as investment manager; Robert Atchinson and Phillip Gross are managing members of related general partners. The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest.

Insights

Equity ownership & insider transactions analyst

Neutral Form 4 showing multi‑tranche sales and updated holdings.

The filing lists several open‑market sales of PRAX on 10/16/2025 at weighted‑average prices spanning $90.0025 to $140.0000, including a notable tranche of 250,000 shares at $104.3095. These are routine Section 16 disclosures rather than corporate actions.

Post‑trade, the reporting group shows 2,060,175 shares beneficially owned on an indirect basis through Adage Capital entities. The filing states a standard disclaimer of beneficial ownership except for pecuniary interest.

As a Form 4, this is informational; market impact depends on trading volumes and investor interpretation of insider activity, not specified in the excerpt.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Adage Capital Management, L.P.

(Last) (First) (Middle)

200 CLARENDON STREET, 52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Praxis Precision Medicines, Inc. [ PRAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.0001 par value per share ("Common Stock")	10/16/2025		S		12,600	A	$90.0025(3)	2,361,485	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		447	A	$91.0402(4)	2,361,038	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		1,363	A	$92.033(5)	2,359,675	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		559	A	$100.1093(6)	2,359,116	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		27,287	A	$101	2,331,829	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		250,000	A	$104.3095(7)	2,081,829	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		1,661	A	$130.0964(8)	2,080,168	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		487	A	$131.6385(9)	2,079,681	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		308	A	$132.1914(10)	2,079,373	I	See footnotes(1)(2)
Common Stock	10/16/2025		S		19,198	A	$140(11)	2,060,175	I	See footnotes(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Adage Capital Management, L.P.

(Last) (First) (Middle)

200 CLARENDON STREET, 52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Atchinson Robert

(Last) (First) (Middle)

200 CLARENDON STREET

52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Gross Phillip

(Last) (First) (Middle)

200 CLARENDON STREET

52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The securities to which this filing relates are held directly by Adage Capital Partners, L.P., a Delaware limited partnership ("ACP"). Adage Capital Management, L.P., a Delaware limited partnership ("ACM"), serves as the investment manager of ACP and as such has discretion over the portfolio securities held by ACP. Robert Atchinson and Phillip Gross are the managing members of (i) Adage Capital Advisors, L.L.C., a Delaware limited liability company, managing member of Adage Capital Partners GP, L.L.C., a Delaware limited liability company, general partner of ACP and (ii) Adage Capital Partners LLC, a Delaware limited liability company, general partner of ACM.

2. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, except as to such extent of such Reporting Person's pecuniary interest in the securities, if any.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.0000 to $90.5000, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.000 to $91.9900, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.0000 to $92.2500, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.0400 to $100.6500, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.0000 to $104.3869, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $130.0000 to $130.9700, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $131.0000 to $131.9800, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $132.0000 to $132.5100, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $140.0000 to $140.0100, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

	/s/ Adage Capital Management, L.P.; By: its general partner Adage Capital Partners LLC; By its managing member Robert Atchinson	10/17/2025
	/s/ Robert Atchinson	10/17/2025
	/s/ Phillip Gross	10/17/2025
	** Signature of Reporting Person	Date
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