PRAX
Pharmaceuticals, Biotechnology & Life Sciences
CROWD: AMBER
Institutional ownership is building here (3 rising quarters). Not yet crowded, but the quiet phase is ending.
Active holders
123
of 289 total, index funds excluded
Conviction
10 bps
median holder weight: token bet
Streak
3q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2023Mar 2026
Holdings as of Mar 31, 2026, filed by May 16, 2026. Counts for the newest quarter keep settling for a few weeks as amendments land.
The tide
funds in (up) vs out (down)
Top holders
by reported value · $10.2B held
| Fund | Value | Note |
|---|
| JANUS HENDERSON GROUP PLC |
$1.1B |
|
| Orbis Allan Gray Ltd |
$797M |
|
| BlackRock, Inc. |
$749M |
|
| FMR LLC |
$696M |
|
| PERCEPTIVE ADVISORS LLC |
$656M |
|
| BAKER BROS. ADVISORS LP |
$565M |
|
| VANGUARD CAPITAL MANAGEMENT… |
$394M |
|
| DEERFIELD MANAGEMENT COMPAN… |
$310M |
fast money |
| Driehaus Capital Management… |
$306M |
|
| Cormorant Asset Management,… |
$285M |
|
Tourists vs true believers
every holder a dot · right = bigger bet in their own book, up = patient money
Hover any dot for the fund and its bet size. Patience is measured from each filer's actual quarter-to-quarter turnover across our whole database.