Praxis (PRAX): Cormorant and Bihua Chen Report 1.625M Shares (7.72%)

Rhea-AI Filing Summary

Cormorant Asset Management, LP and Bihua Chen report beneficial ownership of 1,625,000 shares of Praxis Precision Medicines common stock, representing 7.72% of the outstanding class. The shares are held through Cormorant-managed funds (the "Cormorant Funds") and the filing attributes voting and dispositive authority as shared rather than sole power.

The filing notes that the Cormorant Funds have the economic rights to dividends or sale proceeds and identifies Cormorant Global Healthcare Master Fund, LP as a fund with rights to more than 5% of the reported shares. The statement clarifies it is filed on behalf of both reporting persons and disclaims that the filing alone establishes beneficial ownership for purposes of Section 13.

Positive

• Material institutional stake: Reporting persons beneficially own 1,625,000 shares, equal to 7.72% of the class, exceeding the 5% disclosure threshold
• Clear fund ownership: Shares are held through the Cormorant Funds, providing transparency on the investment vehicle and economic rights
• Identified >5% fund: Cormorant Global Healthcare Master Fund, LP is named as having rights to more than 5% of the reported shares

Negative

• No sole control: Reporting persons state 0 shares of sole voting or dispositive power and only shared voting/dispositive power for 1,625,000 shares, limiting unilateral influence

Insights

Securities Analyst

TL;DR: A 7.72% stake via Cormorant Funds is material and signals notable institutional ownership without sole control.

The reported 1,625,000 shares and 7.72% ownership is above the 5% threshold that requires Schedule 13G/A disclosure, making this a material ownership report for investors monitoring shareholder composition. The allocation of shared voting and dispositive power indicates influence is exercised collectively through the funds rather than unilaterally by the reporting persons, which may limit immediate control implications but establishes a meaningful position to observe company developments.

Corporate Governance Expert

TL;DR: Institutional stake disclosed; governance influence likely collaborative given shared voting and dispositive powers.

The filing shows the position is held by Cormorant-managed funds with shared voting/dispositive authority and identifies a specific fund that holds rights to more than 5% of the reported shares. This structure suggests the reporting entities are positioned to engage as institutional investors but do not claim sole control. The explicit certification that the securities were not acquired to change control further frames the holding as investment-oriented rather than an activist control bid.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Praxis Precision Medicines, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

74006W207

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 74006W207

1

Names of Reporting Persons

Cormorant Asset Management, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,625,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,625,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,625,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.72 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 74006W207

1

Names of Reporting Persons

Bihua Chen

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,625,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,625,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,625,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.72 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

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
Item 2.
(a)	Name of person filing: Cormorant Asset Management, LP Bihua Chen This statement is filed by (i) Cormorant Asset Management, LP, a Delaware limited partnership, and the investment adviser to certain funds (the "Cormorant Funds"), with respect to the shares directly held by the Cormorant Funds and (ii) Bihua Chen with respect to the shares directly held by the Cormorant Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the shares reported herein.
(b)	Address or principal business office or, if none, residence: 200 Clarendon Street, 52nd Floor Boston, MA 02116
(c)	Citizenship: Cormorant Asset Management, LP - Delaware Bihua Chen - United States
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 74006W207
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,625,000
(b)	Percent of class: 7.72%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,625,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,625,000 The percentages reported herein with respect to the Reporting Persons' holdings are calculated based upon a statement in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended on June 30, 2025, as filed with the Securities and Exchange Commission on August 4, 2025, that there were 21,045,781 shares of Common Stock of the Issuer outstanding as of July 31, 2025..
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2. The Cormorant Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares reported herein. Cormorant Global Healthcare Master Fund, LP, a Cormorant Fund, has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Cormorant Asset Management, LP

Signature:	/s/ Bihua Chen
Name/Title:	Bihua Chen, Managing Member
Date:	08/14/2025

Bihua Chen

Signature:	/s/ Bihua Chen
Name/Title:	Bihua Chen
Date:	08/14/2025

Exhibit Information

JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning her or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that she or it knows or has reason to believe that such information is inaccurate. Dated: August 14, 2025 Cormorant Asset Management, LP By: Cormorant Asset Management GP, LLC its General Partner By: /s/ Bihua Chen Bihua Chen, Managing Member Bihua Chen By: /s/ Bihua Chen Bihua Chen

FAQ

What stake does Cormorant Asset Management report in Praxis (PRAX)?

Cormorant Asset Management and Bihua Chen report beneficial ownership of 1,625,000 shares, representing 7.72% of Praxis common stock.

Who are the reporting persons on the Schedule 13G/A for PRAX?

The filing is made by Cormorant Asset Management, LP and Bihua Chen (listed as Managing Member), reporting shares held by the Cormorant Funds.

Do the reporting persons have sole voting or dispositive power over the PRAX shares?

No. The filing states 0 shares of sole voting power and sole dispositive power and 1,625,000 shares of shared voting and dispositive power.

Is any Cormorant fund identified as holding more than 5% of the reported shares?

Yes. The filing identifies Cormorant Global Healthcare Master Fund, LP as having the right to receive or direct dividends or proceeds for more than 5% of the reported shares.

Which class of security and CUSIP are covered in the filing for PRAX?

The filing covers Common Stock of Praxis Precision Medicines with CUSIP 74006W207.