venBio Partners LLC Purchases New Shares in Parabilis Medicines, Inc. $PBLS

venBio Partners LLC bought a new position in Parabilis Medicines, Inc. (NASDAQ:PBLS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 5,266,697 shares of the company’s stock, valued at approximately $144,149,497,000. Parabilis Medicines makes up 27.8% of venBio Partners LLC’s investment portfolio, making the stock its 2nd largest position.

Several other institutional investors have also made changes to their positions in the company. Alphabet Inc. acquired a new stake in shares of Parabilis Medicines during the second quarter valued at approximately $134,647,000. ICONIQ Capital LLC purchased a new stake in shares of Parabilis Medicines in the 2nd quarter valued at approximately $9,580,000. ARCH Venture Management LLC acquired a new position in Parabilis Medicines in the 2nd quarter worth approximately $175,517,789,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parabilis Medicines in the 2nd quarter worth approximately $526,000. Finally, Jupiter Topco LLC purchased a new position in Parabilis Medicines during the 2nd quarter worth approximately $62,710,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on PBLS shares. Wall Street Zen raised shares of Parabilis Medicines to a “hold” rating in a research note on Saturday, June 20th. Bank of America started coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a “buy” rating and a $45.00 target price for the company. Leerink Partners assumed coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating and a $40.00 price target on the stock. Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Evercore started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parabilis Medicines has an average rating of “Buy” and an average price target of $41.67.

Insiders Place Their Bets

In other news, major shareholder Guy Levy bought 500,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider directly owned 1,027,000 shares in the company, valued at approximately $20,540,000. This trade represents a 94.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Sebulsky purchased 9,065 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of $26.49 per share, with a total value of $240,131.85. Following the completion of the purchase, the director directly owned 30,000 shares in the company, valued at approximately $794,700. This represents a 43.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 530,000 shares of company stock valued at $10,723,528.

Parabilis Medicines Price Performance

Shares of NASDAQ:PBLS opened at $39.29 on Friday. The firm’s fifty day moving average is $32.64. Parabilis Medicines, Inc. has a 12-month low of $24.51 and a 12-month high of $41.49.

Parabilis Medicines (NASDAQ:PBLS) last posted its quarterly 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 firm had revenue of $0.15 million for the quarter. Equities analysts forecast 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.