Parabilis Medicines, Inc. (NASDAQ:PBLS – Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,769,824 shares, a growth of 148.1% from the June 15th total of 1,116,504 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 1,067,719 shares, the days-to-cover ratio is presently 2.6 days.
Parabilis Medicines Trading Down 0.4%
Shares of NASDAQ:PBLS traded down $0.13 during trading on Tuesday, reaching $29.50. 40,040 shares of the stock traded hands, compared to its average volume of 843,776. Parabilis Medicines has a 52-week low of $24.51 and a 52-week high of $34.47.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PBLS. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Guggenheim assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They set a “buy” rating and a $40.00 price objective for the company. Leerink Partners initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Zacks Research raised Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Parabilis Medicines currently has a consensus rating of “Buy” and an average price target of $41.67.
Insider Activity
In other Parabilis Medicines news, Director Alan Sebulsky purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the purchase, the director directly owned 12,500 shares in the company, valued at $250,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Guy Levy purchased 500,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider owned 1,027,000 shares in the company, valued at $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 530,000 shares of company stock valued at $10,723,528.
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