1,920,805 Shares in Parabilis Medicines, Inc. $PBLS Purchased by Frazier Life Sciences Management L.P.

Key Points

• Frazier Life Sciences Management purchased 1.92 million Parabilis Medicines shares worth approximately $52.6 million, acquiring a 1.63% stake. Other institutional investors, including General Catalyst and ICONIQ Capital, also initiated positions during the second quarter.
• Parabilis reported a quarterly loss of $2.32 per share, missing the $0.16 consensus estimate by $2.16, while revenue totaled just $0.15 million. Analysts expect a full-year loss of $2.05 per share.
• PBLS opened at $40.42, near its 12-month high of $41.49. Analyst coverage is generally positive, with a “Moderate Buy” consensus rating and an average price target of $41.67.

Frazier Life Sciences Management L.P. purchased a new position in Parabilis Medicines, Inc. (NASDAQ:PBLS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,920,805 shares of the company's stock, valued at approximately $52,572,000. Parabilis Medicines makes up 1.1% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 17th biggest holding. Frazier Life Sciences Management L.P. owned about 1.63% of Parabilis Medicines as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Persistent Asset Partners Ltd bought a new stake in shares of Parabilis Medicines in the 2nd quarter worth approximately $113,000. Alyeska Investment Group L.P. acquired a new position in Parabilis Medicines in the second quarter worth approximately $274,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parabilis Medicines in the second quarter worth approximately $526,000. ICONIQ Capital LLC acquired a new position in Parabilis Medicines in the second quarter worth approximately $9,580,000. Finally, General Catalyst Group Management LLC bought a new position in shares of Parabilis Medicines in the second quarter valued at $43,818,000.

Insider Transactions at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky bought 9,065 shares of the company's stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $26.49 per share, for a total transaction of $240,131.85. Following the acquisition, the director directly owned 30,000 shares of the company's stock, valued at approximately $794,700. This trade represents a 43.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Guy Levy purchased 500,000 shares of Parabilis Medicines stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider directly owned 1,027,000 shares of the company's stock, valued at $20,540,000. This represents a 94.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 530,000 shares of company stock valued at $10,723,528 over the last 90 days.

Parabilis Medicines Price Performance

PBLS opened at $40.42 on Monday. The firm has a fifty day simple moving average of $34.15. Parabilis Medicines, Inc. has a 12-month low of $24.51 and a 12-month high of $41.49.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last issued 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 during the quarter. Sell-side analysts anticipate that Parabilis Medicines, Inc. will post -2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

PBLS has been the subject of a number of recent research reports. Evercore started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an "outperform" rating for the company. Leerink Partners assumed coverage on Parabilis Medicines in a report on Monday, July 6th. They set an "outperform" rating and a $40.00 target price for the company. Bank of America assumed coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a "buy" rating and a $45.00 price target for the company. Wall Street Zen upgraded Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. Finally, Zacks Research raised shares of Parabilis Medicines to a "hold" rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

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.