Jupiter Topco LLC Buys Shares of 2,296,547 Parabilis Medicines, Inc. $PBLS

Key Points

• Jupiter Topco LLC acquired 2,296,547 shares of Parabilis Medicines, valued at approximately $62.7 million, representing about 1.94% of the company.
• Several institutional investors and insiders also increased exposure; insider purchases totaled 530,000 shares worth roughly $10.7 million over the past 90 days.
• Parabilis reported a quarterly loss of $2.32 per share, far below the $0.16 consensus estimate, while analysts maintained an overall “Buy” rating with a $41.67 consensus price target.

Jupiter Topco LLC purchased a new stake 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 & Exchange Commission. The institutional investor purchased 2,296,547 shares of the company's stock, valued at approximately $62,710,000. Jupiter Topco LLC owned about 1.94% of Parabilis Medicines as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Persistent Asset Partners Ltd purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth approximately $113,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parabilis Medicines during the second quarter valued at approximately $526,000. ICONIQ Capital LLC purchased a new stake in Parabilis Medicines during the second quarter valued at approximately $9,580,000. Alphabet Inc. purchased a new stake in Parabilis Medicines during the second quarter valued at approximately $134,647,000. Finally, ARCH Venture Management LLC acquired a new stake in Parabilis Medicines in the second quarter valued at approximately $175,517,789,000.

Insider Transactions at Parabilis Medicines

In other news, major shareholder Guy Levy acquired 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 completion of the purchase, the insider directly owned 1,027,000 shares in the company, valued at $20,540,000. This trade represents a 94.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Sebulsky acquired 9,065 shares of Parabilis Medicines stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $26.49 per share, with a total value of $240,131.85. Following the completion of the purchase, the director owned 30,000 shares of the company's stock, valued at approximately $794,700. The trade was a 43.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 530,000 shares of company stock valued at $10,723,528.

Parabilis Medicines Price Performance

NASDAQ PBLS opened at $39.29 on Friday. The business has a fifty day moving average of $32.64. 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 announced its quarterly earnings data 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. As a group, equities analysts anticipate that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PBLS shares. Leerink Partners initiated coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating and a $40.00 price target on the stock. Bank of America started coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a "buy" rating and a $45.00 price objective for the company. Wall Street Zen upgraded Parabilis Medicines to a "hold" rating in a research note on Saturday, June 20th. Guggenheim started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set a "buy" rating and a $40.00 target price on the stock. Finally, Zacks Research upgraded Parabilis Medicines to a "hold" rating in a research note on Tuesday, July 7th. One 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, the company currently has an average 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.

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