Parabilis Medicines, Inc. (NASDAQ:PBLS) Sees Significant Growth in Short Interest

Parabilis Medicines, Inc. (NASDAQ:PBLS) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 1,116,504 shares, an increase of ? from the May 31st total of 0 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 838,555 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th.

Parabilis Medicines Stock Up 6.6%

Parabilis Medicines stock opened at $29.58 on Friday. Parabilis Medicines has a fifty-two week low of $24.51 and a fifty-two week high of $34.47.

Insider Activity

In related news, Director Alan Sebulsky acquired 9,065 shares of the stock in a transaction dated 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 acquisition, the director owned 30,000 shares in the company, valued at approximately $794,700. The trade was a 43.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Guy Levy acquired 500,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider directly owned 1,027,000 shares in the company, valued at $20,540,000. This represents a 94.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 530,000 shares of company stock valued at $10,723,528.