Praxis Stock Has Surged 700% in a Year, and This Fund Is Betting $266 Million on Its Pipeline

Deerfield Management Company increased its PRAX stake by 62,500 shares in the fourth quarter; the estimated transaction value was $11.64 million based on quarterly average prices. Meanwhile, the quarter-end value of the PRAX position rose by $221.69 million, reflecting both the share addition and price appreciation during the period.