1,600,937 Shares in Parabilis Medicines, Inc. $PBLS Purchased by General Catalyst Group Management LLC

Key Points

• General Catalyst Group Management acquired 1,600,937 Parabilis Medicines shares worth approximately $43.8 million, making PBLS its second-largest holding and representing about 1.36% of the company.
• Several other institutional investors initiated positions in PBLS during the second quarter, while insiders bought 530,000 shares worth $10.7 million over the past 90 days.
• PBLS was trading at $39.29, near its 12-month high, despite reporting a quarterly loss of $2.32 per share versus the $0.16 consensus estimate. Analysts maintain a consensus “Buy” rating with a $41.67 price target.

General Catalyst Group Management LLC acquired a new position in shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,600,937 shares of the company's stock, valued at approximately $43,818,000. Parabilis Medicines comprises 23.2% of General Catalyst Group Management LLC's investment portfolio, making the stock its 2nd biggest holding. General Catalyst Group Management LLC owned about 1.36% of Parabilis Medicines as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. ARCH Venture Management LLC bought a new position in shares of Parabilis Medicines in the 2nd quarter valued at about $175,517,789,000. Alphabet Inc. bought a new stake in shares of Parabilis Medicines during the second quarter worth approximately $134,647,000. Jupiter Topco LLC bought a new stake in shares of Parabilis Medicines during the second quarter worth approximately $62,710,000. ICONIQ Capital LLC acquired a new position in Parabilis Medicines in the second quarter valued at approximately $9,580,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parabilis Medicines in the second quarter valued at approximately $526,000.

Parabilis Medicines Trading Up 0.1%

PBLS opened at $39.29 on Friday. The stock has a fifty day moving average price of $32.64. Parabilis Medicines, Inc. has a twelve month low of $24.51 and a twelve month high of $41.49.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last announced 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. Research analysts predict that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Insider Buying and Selling at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky bought 9,065 shares of Parabilis Medicines stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $26.49 per share, for a total transaction of $240,131.85. Following the completion of the acquisition, the director owned 30,000 shares in the company, valued at approximately $794,700. The trade was a 43.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Guy Levy bought 500,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $20.00 per share, with a total value 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 position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 530,000 shares of company stock worth $10,723,528 in the last ninety days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PBLS shares. Zacks Research raised shares of Parabilis Medicines to a "hold" rating in a research note on Tuesday, July 7th. Bank of America assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set a "buy" rating and a $45.00 target price for the company. Evercore initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating on the stock. Guggenheim began coverage on Parabilis Medicines in a research note on Monday, July 6th. They set a "buy" rating and a $40.00 price objective for the company. Finally, Wall Street Zen upgraded Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Parabilis Medicines has a consensus rating of "Buy" and a consensus price target of $41.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source