Biotech Stock Still Up 700% Despite 30% Drop This Year as One Fund Discloses $9 Million Exit

On February 17, 2026, 5AM Venture Management reported selling its entire stake in Praxis Precision Medicines (NASDAQ:PRAX), an estimated $9.01 million trade based on last-disclosed position values. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, 5AM Venture Management sold its 170,000 shares of Praxis Precision Medicines. The fund now reports no position in PRAX, and the total quarter-end valuation for this holding was reduced by $9.01 million as a re ...