General Catalyst Group Management LLC Purchases Shares of 1,600,937 Parabilis Medicines, Inc. $PBLS

General Catalyst Group Management LLC purchased a new stake in Parabilis Medicines, Inc. (NASDAQ:PBLS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,600,937 shares of the company’s stock, valued at approximately $43,818,000. Parabilis Medicines makes up 23.2% of General Catalyst Group Management LLC’s holdings, making the stock its 2nd biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new position in Parabilis Medicines in the 2nd quarter worth $113,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Parabilis Medicines in the second quarter valued at about $526,000. Alphabet Inc. bought a new stake in shares of Parabilis Medicines in the second quarter valued at about $134,647,000. ICONIQ Capital LLC acquired a new position in shares of Parabilis Medicines during the second quarter worth about $9,580,000. Finally, ARCH Venture Management LLC bought a new position in shares of Parabilis Medicines during the second quarter worth about $175,517,789,000.

Wall Street Analysts Forecast Growth

PBLS has been the topic of several research reports. Leerink Partners assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Evercore initiated coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating on the stock. Lifesci Capital raised shares of Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $41.67.

Parabilis Medicines Stock Performance

NASDAQ:PBLS opened at $39.29 on Friday. Parabilis Medicines, Inc. has a 52-week low of $24.51 and a 52-week high of $41.49. The firm has a 50-day moving average of $32.64.

Parabilis Medicines (NASDAQ:PBLS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The company had revenue of $0.15 million during the quarter. On average, analysts anticipate that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alan Sebulsky acquired 9,065 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $26.49 per share, for a total transaction of $240,131.85. Following the purchase, the director directly owned 30,000 shares in the company, valued at approximately $794,700. This trade represents a 43.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Guy Levy acquired 500,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider owned 1,027,000 shares in the company, valued at $20,540,000. The trade was a 94.88% 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.

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.