Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.00 and last traded at $38.00, with a volume of 378 shares changing hands. The stock had previously closed at $37.07.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Zacks Research upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Guggenheim began coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set a “buy” rating and a $40.00 price target for the company. Bank of America started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $45.00 price target on the stock. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research note on Saturday, June 20th. Finally, Leerink Partners started coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating and a $40.00 price objective for the company. One 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $41.67.
View Our Latest Report on PBLS
Parabilis Medicines Price Performance
Parabilis Medicines (NASDAQ:PBLS – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The company had revenue of $0.15 million for the quarter. On average, equities analysts expect that Parabilis Medicines, Inc. will post -1.4 earnings per share for the current year.
Insider Buying and Selling
In other news, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Sebulsky bought 12,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the director directly owned 12,500 shares of the company’s stock, valued at approximately $250,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 530,000 shares of company stock worth $10,723,528.
Institutional Trading of Parabilis Medicines
Several hedge funds and other institutional investors have recently bought and sold shares of PBLS. Persistent Asset Partners Ltd acquired a new position in shares of Parabilis Medicines during the 2nd quarter worth approximately $113,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parabilis Medicines in the 2nd quarter valued at $526,000. ICONIQ Capital LLC bought a new stake in shares of Parabilis Medicines during the 2nd quarter valued at $9,580,000. Jupiter Topco LLC acquired a new stake in Parabilis Medicines during the second quarter worth about $62,710,000. Finally, Alphabet Inc. bought a new position in Parabilis Medicines in the 2nd quarter valued at approximately $134,647,000.
About Parabilis Medicines
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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