48,484 Shares in Parabilis Medicines, Inc. $PBLS Acquired by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC acquired 48,484 Parabilis Medicines shares in the second quarter, valued at approximately $1.33 million. Other new institutional investors included ICONIQ Capital and General Catalyst, which invested about $9.58 million and $43.82 million, respectively.
• Analyst coverage is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $41.67; targets from Leerink Partners and Bank of America reached $40 and $45.
• PBLS shares opened at $36.88 and have traded between $24.51 and $41.49 over the past year. The clinical-stage biopharmaceutical company reported a quarterly loss of $2.32 per share, substantially missing the $0.16 consensus estimate, on $150,000 in revenue.

Squarepoint Ops LLC bought a new stake in Parabilis Medicines, Inc. (NASDAQ:PBLS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 48,484 shares of the company's stock, valued at approximately $1,327,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Leerink Partners began coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating and a $40.00 target price on the stock. Bank of America started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued a "buy" rating and a $45.00 price objective for the company. Zacks Research raised shares of Parabilis Medicines to a "hold" rating in a research note on Tuesday, July 7th. Evercore assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set an "outperform" rating on the stock. Finally, Weiss Ratings initiated coverage on shares of Parabilis Medicines in a research report on Friday, September 4th. They set a "sell (d)" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Parabilis Medicines Stock Up 3.2%

Shares of PBLS stock opened at $36.88 on Thursday. Parabilis Medicines, Inc. has a one year low of $24.51 and a one year high of $41.49. The stock's 50 day moving average is $35.50.

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 business had revenue of $0.15 million for the quarter. Research analysts anticipate that Parabilis Medicines, Inc. will post -2.05 EPS for the current year.

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.

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