Jupiter Topco LLC Takes Position in Parabilis Medicines, Inc. $PBLS

Jupiter Topco LLC acquired a new position in Parabilis Medicines, Inc. (NASDAQ:PBLS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,296,547 shares of the company’s stock, valued at approximately $62,710,000.

Several other institutional investors have also recently made changes to their positions in PBLS. Persistent Asset Partners Ltd acquired a new position in Parabilis Medicines during the second quarter valued at $113,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Parabilis Medicines during the 2nd quarter worth about $526,000. Alphabet Inc. purchased a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $134,647,000. ICONIQ Capital LLC purchased a new position in shares of Parabilis Medicines during the 2nd quarter valued at about $9,580,000. Finally, ARCH Venture Management LLC acquired a new position in shares of Parabilis Medicines in the 2nd quarter valued at about $175,517,789,000.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Parabilis Medicines

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

Parabilis Medicines Trading Up 0.1%

Shares of PBLS opened at $39.29 on Friday. Parabilis Medicines, Inc. has a 12 month low of $24.51 and a 12 month high of $41.49. The firm has a 50 day simple moving average of $32.64.

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