Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 19,200 Parabilis Medicines, Inc. $PBLS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parabilis Medicines, Inc. (NASDAQ:PBLS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,200 shares of the company’s stock, valued at approximately $526,000.

Separately, Persistent Asset Partners Ltd acquired a new stake in shares of Parabilis Medicines during the second quarter valued at approximately $113,000.

Wall Street Analyst Weigh In

PBLS has been the subject of several research analyst reports. Evercore started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued an “outperform” rating 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 initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set an “outperform” rating and a $40.00 target price on the stock. 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. Finally, Bank of America started coverage on Parabilis Medicines in a report on Monday, July 6th. They issued a “buy” rating and a $45.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $41.67.

Insider Activity at Parabilis Medicines

In related news, Director Alan Sebulsky bought 12,500 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the transaction, the director directly owned 12,500 shares in the company, valued at $250,000. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Guy Levy bought 500,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider owned 1,027,000 shares in the company, valued at approximately $20,540,000. This represents a 94.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 530,000 shares of company stock worth $10,723,528.

Parabilis Medicines Stock Performance

Shares of PBLS opened at $39.36 on Friday. The firm has a 50-day simple moving average of $31.59. 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 posted 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 for the quarter. On average, sell-side analysts expect that Parabilis Medicines, Inc. will post -2.05 EPS for the current fiscal year.

Parabilis Medicines 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.