Parabilis Medicines, Inc. (NASDAQ:PBLS – Get Free Report) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $41.6667.
PBLS has been the subject of a number of recent research reports. Evercore assumed coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating for the company. Wall Street Zen upgraded Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Bank of America assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Guggenheim began coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $40.00 price objective on the stock.
View Our Latest Stock Report on PBLS
Parabilis Medicines Price Performance
Parabilis Medicines (NASDAQ:PBLS – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $0.15 million during the quarter. On average, sell-side analysts forecast that Parabilis Medicines will post -2.05 earnings per share for the current year.
Insider Transactions at Parabilis Medicines
In other news, major shareholder Guy Levy purchased 500,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider owned 1,027,000 shares of the company’s stock, valued at approximately $20,540,000. This trade represents a 94.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Sebulsky acquired 12,500 shares of Parabilis Medicines stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director directly owned 12,500 shares in the company, valued at $250,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 530,000 shares of company stock valued at $10,723,528.
Institutional Investors Weigh In On Parabilis Medicines
Several hedge funds and other institutional investors have recently modified their holdings of the business. Alphabet Inc. purchased a new position in Parabilis Medicines during the 2nd quarter valued at $134,647,000. ICONIQ Capital LLC bought a new position in Parabilis Medicines in the 2nd quarter valued at $9,580,000. ARCH Venture Management LLC purchased a new stake in Parabilis Medicines in the second quarter worth $175,517,789. General Catalyst Group Management LLC purchased a new stake in Parabilis Medicines in the second quarter worth $43,818,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parabilis Medicines in the second quarter worth $526,000.
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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