Regeneron Pharmaceuticals Inc. Invests $114.04 Million in Parabilis Medicines, Inc. $PBLS

Regeneron Pharmaceuticals Inc. bought a new stake in Parabilis Medicines, Inc. (NASDAQ:PBLS) in the second quarter, HoldingsChannel reports. The fund bought 4,166,666 shares of the company’s stock, valued at approximately $114,042,000. Parabilis Medicines comprises 64.4% of Regeneron Pharmaceuticals Inc.’s portfolio, making the stock its largest position.

Other hedge funds also recently modified their holdings of the company. venBio Partners LLC bought a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $144,149,497. General Catalyst Group Management LLC acquired a new stake in Parabilis Medicines during the 2nd quarter worth approximately $43,818,000. Jupiter Topco LLC acquired a new stake in Parabilis Medicines during the 2nd quarter worth approximately $62,710,000. ARCH Venture Management LLC bought a new position in Parabilis Medicines in the second quarter valued at approximately $175,517,789. Finally, ICONIQ Capital LLC bought a new position in Parabilis Medicines in the second quarter valued at approximately $9,580,000.

Analyst Ratings Changes

Several research analysts have recently weighed in 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. Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Lifesci Capital raised shares of Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Guggenheim started coverage on Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $40.00 price objective for the company. One research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $41.67.

Insider Activity at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the director owned 12,500 shares of the company’s stock, valued at $250,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Guy Levy purchased 500,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider owned 1,027,000 shares in the company, valued at $20,540,000. This trade represents a 94.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 530,000 shares of company stock valued at $10,723,528 over the last quarter.

Parabilis Medicines Trading Down 0.5%

Parabilis Medicines stock opened at $39.11 on Friday. Parabilis Medicines, Inc. has a fifty-two week low of $24.51 and a fifty-two week high of $41.49. The business’s 50-day moving average price is $32.91.

Parabilis Medicines (NASDAQ:PBLS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The business had revenue of $0.15 million during the quarter. Research analysts expect that Parabilis Medicines, Inc. will post -2.05 EPS for the current fiscal year.

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.