Parabilis Medicines, Inc. (NASDAQ:PBLS – Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $36.93 and last traded at $36.47, with a volume of 113886 shares changing hands. The stock had previously closed at $34.98.
Analyst Ratings Changes
Several analysts have issued reports on PBLS shares. Guggenheim assumed coverage on Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $40.00 price target for the company. Evercore began coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating on the stock. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Finally, Lifesci Capital raised shares of Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $41.67.
Get Our Latest Analysis on PBLS
Parabilis Medicines Stock Performance
Insiders Place Their Bets
In other Parabilis Medicines news, Director Alan Sebulsky purchased 9,065 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $26.49 per share, with a total value of $240,131.85. Following the completion of the acquisition, the director directly owned 30,000 shares in the company, valued at $794,700. The trade was a 43.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider directly owned 1,027,000 shares of the company’s stock, valued at approximately $20,540,000. This represents a 94.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 530,000 shares of company stock valued at $10,723,528 in the last quarter.
Institutional Trading of Parabilis Medicines
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd purchased a new position in Parabilis Medicines in the 2nd quarter worth approximately $113,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parabilis Medicines during the 2nd quarter valued at approximately $526,000. Finally, Alphabet Inc. purchased a new stake in Parabilis Medicines during the 2nd quarter valued at approximately $134,647,000.
Parabilis Medicines Company Profile
Parabilis Medicines Inc is a clinical-stage biopharmaceutical company built to develop transformative medicines addressing some of the most consequential, yet historically undruggable, protein targets driving human disease. Parabilis Medicines Inc is based in CAMBRIDGE, Mass.
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