ARCH Venture Management LLC Takes Position in Parabilis Medicines, Inc. $PBLS

ARCH Venture Management LLC acquired a new position in Parabilis Medicines, Inc. (NASDAQ:PBLS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,412,780 shares of the company's stock, valued at approximately $175,517,789. Parabilis Medicines comprises about 0.0% of ARCH Venture Management LLC's portfolio, making the stock its biggest position. ARCH Venture Management LLC owned about 5.43% of Parabilis Medicines as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBLS. Persistent Asset Partners Ltd purchased a new stake in Parabilis Medicines during the second quarter valued at about $113,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Parabilis Medicines in the second quarter worth about $526,000. ICONIQ Capital LLC bought a new stake in shares of Parabilis Medicines in the second quarter valued at approximately $9,580,000. Finally, Alphabet Inc. bought a new stake in shares of Parabilis Medicines in the second quarter valued at approximately $134,647,000.

Insider Activity at Parabilis Medicines

In other news, major shareholder Guy Levy purchased 500,000 shares of Parabilis Medicines stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the transaction, the insider directly 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. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Sebulsky purchased 9,065 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $26.49 per share, for a total transaction of $240,131.85. Following the acquisition, the director owned 30,000 shares of the company's stock, valued at approximately $794,700. This trade represents a 43.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 530,000 shares of company stock worth $10,723,528 over the last quarter.

Parabilis Medicines Trading Down 0.5%

Shares of PBLS opened at $39.11 on Friday. Parabilis Medicines, Inc. has a twelve month low of $24.51 and a twelve month high of $41.49. The firm's 50-day moving average is $32.91.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($2.16). The firm had revenue of $0.15 million for the quarter. As a group, sell-side analysts predict that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PBLS. Lifesci Capital upgraded shares of Parabilis Medicines to a "strong-buy" rating in a research note on Monday, July 6th. Bank of America initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $45.00 price objective for the company. Wall Street Zen raised shares of Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. Leerink Partners started coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating and a $40.00 price target for the company. Finally, Guggenheim assumed coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a "buy" rating and a $40.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.