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

Parabilis Medicines (NASDAQ:PBLS) announced its earnings results on Thursday. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.16), FiscalAI reports. The firm had revenue of $0.15 million for the quarter.

Parabilis Medicines Stock Performance

PBLS traded down $1.74 during trading on Thursday, hitting $35.67. 270,983 shares of the company traded hands, compared to its average volume of 624,754. The firm’s fifty day moving average price is $30.42. Parabilis Medicines has a one year low of $24.51 and a one year high of $37.83.

Insider Activity

In related news, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider owned 1,027,000 shares in the company, valued at approximately $20,540,000. The trade was a 94.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Sebulsky bought 9,065 shares of the company’s stock in a transaction on Monday, June 15th. The stock was bought at an average price of $26.49 per share, for a total transaction of $240,131.85. Following the completion of the purchase, the director owned 30,000 shares of the company’s stock, valued at approximately $794,700. The trade was 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 ninety days, insiders acquired 530,000 shares of company stock worth $10,723,528.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parabilis Medicines in the 2nd quarter valued at about $526,000. Alphabet Inc. purchased a new stake in Parabilis Medicines during the second quarter valued at about $134,647,000. Finally, Persistent Asset Partners Ltd bought a new position in Parabilis Medicines during the second quarter worth about $113,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PBLS shares. Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating and a $40.00 target price on the stock. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. Evercore began coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating for the company. Finally, Guggenheim started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Parabilis Medicines currently has an average rating of “Buy” and an average target price of $41.67.

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.