Parabilis Medicines (NASDAQ:PBLS) Shares Up 5.9% – Here’s What Happened

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) rose 5.9% on Tuesday . The stock traded as high as $39.59 and last traded at $39.42. 473,163 shares changed hands during trading, a decline of 22% from the average session volume of 608,946 shares. The stock had previously closed at $37.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Bank of America initiated coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued a “buy” rating and a $45.00 price target for the company. Lifesci Capital upgraded shares of Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Leerink Partners started coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Guggenheim assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $41.67.

Parabilis Medicines Price Performance

The stock has a fifty day moving average price of $31.16.

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

Insider Activity at Parabilis Medicines

In other news, Director Alan Sebulsky acquired 9,065 shares of the firm’s stock in a transaction on 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 acquisition, the director owned 30,000 shares of the company’s stock, valued at approximately $794,700. This trade represents a 43.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Guy Levy bought 500,000 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider owned 1,027,000 shares in the company, valued at $20,540,000. The trade was a 94.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 530,000 shares of company stock valued at $10,723,528 over the last quarter.

Institutional Investors Weigh In On Parabilis Medicines

A number of hedge funds have recently modified their holdings of the business. Persistent Asset Partners Ltd acquired a new position in Parabilis Medicines during the second quarter worth about $113,000. Alyeska Investment Group L.P. purchased a new stake in Parabilis Medicines during the 2nd quarter valued at about $274,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parabilis Medicines during the 2nd quarter valued at about $526,000. ICONIQ Capital LLC acquired a new stake in Parabilis Medicines in the 2nd quarter valued at about $9,580,000. Finally, General Catalyst Group Management LLC acquired a new stake in Parabilis Medicines in the 2nd quarter valued at about $43,818,000.

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.