Regeneron Pharmaceuticals Inc. purchased a new position in shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,166,666 shares of the company's stock, valued at approximately $114,042,000. Parabilis Medicines makes up about 64.4% of Regeneron Pharmaceuticals Inc.'s holdings, making the stock its largest holding. Regeneron Pharmaceuticals Inc. owned 3.53% of Parabilis Medicines as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alphabet Inc. bought a new stake in Parabilis Medicines during the 2nd quarter worth about $134,647,000. ICONIQ Capital LLC bought a new position in shares of Parabilis Medicines in the second quarter worth about $9,580,000. ARCH Venture Management LLC acquired a new position in shares of Parabilis Medicines during the second quarter worth approximately $175,517,789. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Parabilis Medicines during the second quarter worth approximately $526,000. Finally, General Catalyst Group Management LLC acquired a new position in shares of Parabilis Medicines during the second quarter worth approximately $43,818,000.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. Lifesci Capital raised Parabilis Medicines to a "strong-buy" rating in a report on Monday, July 6th. Leerink Partners started coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued an "outperform" rating and a $40.00 price objective on the stock. Evercore initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating for the company. Finally, Zacks Research upgraded Parabilis Medicines to a "hold" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $41.67.
Get Our Latest Analysis on Parabilis Medicines
Parabilis Medicines Stock Performance
Parabilis Medicines stock opened at $39.11 on Friday. Parabilis Medicines, Inc. has a 1 year low of $24.51 and a 1 year high of $41.49. The company's 50-day simple moving average is $32.91.
Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The firm had revenue of $0.15 million for the quarter. On average, analysts forecast that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Alan Sebulsky purchased 9,065 shares of the business's stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $26.49 per share, with a total value of $240,131.85. Following the purchase, the director directly owned 30,000 shares in the company, valued at $794,700. This trade represents a 43.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Guy Levy acquired 500,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the insider owned 1,027,000 shares of the company's stock, valued at $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 530,000 shares of company stock valued at $10,723,528 in the last ninety days.
Parabilis Medicines Company Profile
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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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