Parabilis Medicines (NASDAQ:PBLS) Releases Earnings Results, Misses Expectations By $2.16 EPS

Parabilis Medicines (NASDAQ:PBLS) released its quarterly earnings data 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 company had revenue of $0.15 million for the quarter.

Parabilis Medicines Price Performance

NASDAQ:PBLS traded up $1.33 during mid-day trading on Friday, reaching $37.00. The stock had a trading volume of 198,908 shares, compared to its average volume of 615,102. The business has a 50-day simple moving average of $30.53. Parabilis Medicines has a 12 month low of $24.51 and a 12 month high of $37.83.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Guggenheim initiated coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $40.00 target price on the stock. Leerink Partners initiated coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Evercore assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $41.67.

Insider Buying and Selling at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky bought 12,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director directly owned 12,500 shares in the company, valued at approximately $250,000. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Guy Levy bought 500,000 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider owned 1,027,000 shares of the company’s stock, valued at approximately $20,540,000. This represents a 94.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 530,000 shares of company stock worth $10,723,528.

Institutional Investors Weigh In On Parabilis Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in PBLS. Persistent Asset Partners Ltd bought a new position in Parabilis Medicines in the 2nd quarter valued at approximately $113,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Parabilis Medicines during the second quarter worth $526,000. ICONIQ Capital LLC bought a new stake in shares of Parabilis Medicines during the second quarter worth about $9,580,000. Finally, Alphabet Inc. bought a new position in Parabilis Medicines in the 2nd quarter valued at 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.