Parabilis Medicines (NASDAQ:PBLS) Sets New 52-Week High – Should You Buy?

Parabilis Medicines, Inc. (NASDAQ:PBLS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $36.93 and last traded at $36.47, with a volume of 113886 shares. The stock had previously closed at $34.98.

Wall Street Analyst Weigh In

PBLS has been the topic of several analyst reports. Bank of America initiated 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 report on Saturday, June 20th. 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 target price on the stock. Evercore began coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating on the stock. Finally, Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Parabilis Medicines has an average rating of “Buy” and an average price target of $41.67.

Parabilis Medicines Trading Up 0.5%

The business has a 50-day simple moving average of $29.99.

Insider Transactions at Parabilis Medicines

In related news, major shareholder Guy Levy bought 500,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the insider directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Sebulsky purchased 9,065 shares of Parabilis Medicines stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $26.49 per share, with a total value of $240,131.85. Following the transaction, the director owned 30,000 shares in the company, valued at approximately $794,700. The trade was a 43.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 530,000 shares of company stock valued at $10,723,528 in the last three months.

Institutional Investors Weigh In On Parabilis Medicines

Large investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new position in shares of Parabilis Medicines during the second quarter valued at approximately $113,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Parabilis Medicines in the second quarter worth approximately $526,000. Finally, Alphabet Inc. acquired a new stake in shares of Parabilis Medicines in the second quarter worth 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.