Parabilis Medicines (NASDAQ:PBLS) Issues Earnings Results

Parabilis Medicines (NASDAQ:PBLS) posted its earnings results on Thursday. The company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.16), FiscalAI reports. The firm had revenue of $0.15 million for the quarter.

Parabilis Medicines Trading Up 3.9%

Shares of PBLS stock traded up $1.40 during trading on Friday, hitting $37.07. The company had a trading volume of 290,894 shares, compared to its average volume of 370,349. The business’s 50-day simple moving average is $30.66. Parabilis Medicines has a 52 week low of $24.51 and a 52 week high of $37.99.

Analysts Set New Price Targets

Several research analysts recently commented on PBLS shares. Leerink Partners began coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating and a $40.00 price objective for the company. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Bank of America started coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a “buy” rating and a $45.00 price target for the company. Evercore assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating for the company. Finally, Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $41.67.

Insider Activity at Parabilis Medicines

In related news, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the transaction, the insider owned 1,027,000 shares in the company, valued at $20,540,000. This represents a 94.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Sebulsky bought 9,065 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average price of $26.49 per share, with a total value of $240,131.85. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $794,700. This represents a 43.30% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 530,000 shares of company stock valued at $10,723,528.

Institutional Investors Weigh In On Parabilis Medicines

Large investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $113,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $526,000. ICONIQ Capital LLC bought a new stake in Parabilis Medicines in the 2nd quarter worth approximately $9,580,000. Jupiter Topco LLC bought a new stake in Parabilis Medicines in the 2nd quarter worth approximately $62,710,000. Finally, Alphabet Inc. purchased a new stake in 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.