ICONIQ Capital LLC Takes $9.58 Million Position in Parabilis Medicines, Inc. $PBLS

ICONIQ Capital LLC acquired a new stake in Parabilis Medicines, Inc. (NASDAQ:PBLS) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 350,000 shares of the company’s stock, valued at approximately $9,580,000. Parabilis Medicines accounts for about 0.3% of ICONIQ Capital LLC’s holdings, making the stock its 22nd biggest holding.

Several other hedge funds have also recently bought and sold shares of the business. Persistent Asset Partners Ltd bought a new position in Parabilis Medicines during the second quarter valued at about $113,000. Alyeska Investment Group L.P. bought a new stake in shares of Parabilis Medicines during the 2nd quarter worth about $274,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Parabilis Medicines during the 2nd quarter worth about $526,000. General Catalyst Group Management LLC acquired a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $43,818,000. Finally, Jupiter Topco LLC acquired a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $62,710,000.

Parabilis Medicines Stock Performance

PBLS opened at $39.11 on Monday. The business’s fifty day simple moving average is $32.91. Parabilis Medicines, Inc. has a fifty-two week low of $24.51 and a fifty-two week high of $41.49.

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

Wall Street Analysts Forecast Growth

PBLS has been the subject of several analyst reports. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a report on Tuesday, July 7th. Evercore assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued an “outperform” rating on the stock. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research note on Saturday, June 20th. Finally, Bank of America assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $41.67.

Insider Transactions at Parabilis Medicines

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

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.