Parabilis Medicines, Inc.'s Quiet Period Set To Expire on July 20th (NASDAQ:PBLS)

Key Points

• Parabilis Medicines’ quiet period is set to expire on July 20, which should open the door for underwriters to begin research coverage and issue forecasts after the IPO-related restriction ends.
• Several analysts have already turned positive on the stock, with ratings including Buy and Outperform; the current average price target is $41.67 versus a recent opening price of $30.57.
• Insider activity has been notably bullish, including major shareholder Guy Levy buying 500,000 shares and Director Alan Sebulsky buying 12,500 shares at $20 each, totaling more than $10.7 million in insider purchases last quarter.

Parabilis Medicines' (NASDAQ:PBLS - Get Free Report) quiet period is set to expire on Monday, July 20th. Parabilis Medicines had issued 33,500,000 shares in its initial public offering on June 10th. The total size of the offering was $670,000,000 based on an initial share price of $20.00. During the company's quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PBLS. Leerink Partners initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating and a $40.00 price objective for the company. Lifesci Capital raised Parabilis Medicines to a "strong-buy" rating in a research note on Monday, July 6th. Evercore initiated coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an "outperform" rating for the company. Guggenheim initiated coverage on Parabilis Medicines in a research report on Monday, July 6th. They set a "buy" rating and a $40.00 price target for the company. Finally, Bank of America began coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $45.00 price target for the company. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $41.67.

Parabilis Medicines Stock Performance

Parabilis Medicines stock opened at $30.57 on Monday. Parabilis Medicines has a 52 week low of $24.51 and a 52 week high of $34.47.

Insider Buying and Selling

In other news, major shareholder Guy Levy bought 500,000 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the insider directly owned 1,027,000 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Sebulsky bought 12,500 shares of the business's stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $20.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the director directly owned 12,500 shares of the company's stock, valued at $250,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 530,000 shares of company stock worth $10,723,528 in the last quarter.

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