ARCH Venture Management LLC acquired a new stake in shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,412,780 shares of the company's stock, valued at approximately $175,517,789,000. Parabilis Medicines makes up 16.0% of ARCH Venture Management LLC's holdings, making the stock its biggest position. ARCH Venture Management LLC owned approximately 5.43% of Parabilis Medicines as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Parabilis Medicines in the 2nd quarter worth $113,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Parabilis Medicines during the second quarter valued at $526,000. ICONIQ Capital LLC purchased a new position in shares of Parabilis Medicines during the second quarter valued at $9,580,000. Finally, Alphabet Inc. purchased a new position in shares of Parabilis Medicines during the second quarter valued at $134,647,000.
Parabilis Medicines Stock Performance
Shares of PBLS opened at $39.23 on Wednesday. Parabilis Medicines, Inc. has a fifty-two week low of $24.51 and a fifty-two week high of $41.49. The stock's 50-day moving average is $32.11.
Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last posted its earnings results 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 during the quarter. On average, analysts expect that Parabilis Medicines, Inc. will post -2.05 EPS for the current year.
Analyst Ratings Changes
PBLS has been the topic of several recent research reports. Lifesci Capital upgraded shares of Parabilis Medicines to a "strong-buy" rating in a report on Monday, July 6th. Leerink Partners started coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating and a $40.00 price target for the company. Bank of America assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued a "buy" rating and a $45.00 price target for the company. Evercore started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued an "outperform" rating for the company. Finally, Guggenheim started coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set a "buy" rating and a $40.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $41.67.
View Our Latest Research Report on Parabilis Medicines
Insider Buying and Selling
In related news, Director Alan Sebulsky bought 12,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director directly owned 12,500 shares in the company, valued at approximately $250,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider directly owned 1,027,000 shares of the company's stock, valued at $20,540,000. The trade was a 94.88% 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 three months.
Parabilis Medicines Company Profile
(
Free Report)
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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