Parabilis Medicines (NASDAQ:PBLS) Reaches New 12-Month High – Should You Buy?

Parabilis Medicines, Inc. (NASDAQ:PBLS) reached a new 52-week high during trading on Monday . The company traded as high as $38.00 and last traded at $38.00, with a volume of 378 shares trading hands. The stock had previously closed at $37.07.

Wall Street Analysts Forecast Growth

PBLS has been the topic of several research analyst reports. Guggenheim started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $40.00 target price on the stock. Leerink Partners started coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Finally, Evercore assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating for the company. 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. Based on data from MarketBeat.com, Parabilis Medicines currently has a consensus rating of “Buy” and an average target price of $41.67.

Parabilis Medicines Trading Up 2.5%

The business has a fifty day moving average price of $30.66.

Parabilis Medicines (NASDAQ:PBLS) last released its earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The business had revenue of $0.15 million for the quarter. Analysts forecast that Parabilis Medicines, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Alan Sebulsky bought 9,065 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was acquired at an average cost 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Guy Levy bought 500,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider owned 1,027,000 shares of the company’s stock, valued at approximately $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 530,000 shares of company stock worth $10,723,528 in the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PBLS. Persistent Asset Partners Ltd bought a new stake in Parabilis Medicines in the 2nd quarter valued at about $113,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parabilis Medicines during the second quarter worth about $526,000. ICONIQ Capital LLC purchased a new position in shares of Parabilis Medicines in the second quarter worth about $9,580,000. Jupiter Topco LLC purchased a new position in shares of Parabilis Medicines in the second quarter worth about $62,710,000. Finally, Alphabet Inc. bought a new stake in shares of Parabilis Medicines in the second quarter valued at approximately $134,647,000.

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.