Parabilis Medicines, Inc. (NASDAQ:PBLS) Receives Consensus Rating of “Buy” from Brokerages

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) have been assigned an average rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.6667.

A number of brokerages recently issued reports on PBLS. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Leerink Partners initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Evercore initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating on the stock. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th.

Parabilis Medicines Stock Performance

NASDAQ PBLS opened at $39.23 on Wednesday. Parabilis Medicines has a 1 year low of $24.51 and a 1 year high of $41.49. The business has a 50 day moving average price of $32.11.

Parabilis Medicines (NASDAQ:PBLS) last announced 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 business had revenue of $0.15 million for the quarter. As a group, research analysts forecast that Parabilis Medicines will post -2.05 EPS for the current fiscal year.

Insider Activity at Parabilis Medicines

In related news, major shareholder Guy Levy purchased 500,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Sebulsky acquired 9,065 shares of the stock in a transaction dated 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 transaction, the director owned 30,000 shares in the company, valued at approximately $794,700. This represents a 43.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 530,000 shares of company stock valued at $10,723,528.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alphabet Inc. bought a new position in Parabilis Medicines in the second quarter valued at $134,647,000. ICONIQ Capital LLC bought a new stake in Parabilis Medicines during the second quarter worth about $9,580,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parabilis Medicines during the second quarter worth about $526,000. ARCH Venture Management LLC purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth about $175,517,789,000. Finally, Frazier Life Sciences Management L.P. purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth about $52,572,000.

Parabilis Medicines Company 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.