Parabilis Medicines (NASDAQ:PBLS) Reaches New 1-Year High - What's Next?

Key Points

• Parabilis Medicines reached a new 52-week high, trading as high as $36.93 and last at $36.47, up from its previous close of $34.98.
• Analysts are broadly bullish, with a consensus “Buy” rating and an average price target of $41.67; recent targets range from $40 to $45.
• Insiders bought 530,000 shares worth approximately $10.7 million over the past 90 days, while Alphabet acquired a new position valued at about $134.6 million.

Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $36.93 and last traded at $36.47, with a volume of 113886 shares. The stock had previously closed at $34.98.

Analyst Ratings Changes

Several equities analysts recently issued reports on PBLS shares. Evercore began coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued an "outperform" rating on the stock. Guggenheim assumed 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. Bank of America began coverage on Parabilis Medicines in a research note on Monday, July 6th. They set a "buy" rating and a $45.00 price target on the stock. Leerink Partners started coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating and a $40.00 price objective on the stock. Finally, Wall Street Zen upgraded Parabilis Medicines to a "hold" rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $41.67.

Parabilis Medicines Stock Performance

The company has a fifty day simple moving average of $29.99.

Insider Activity

In related news, Director Alan Sebulsky acquired 9,065 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of $26.49 per share, with a total value of $240,131.85. Following the acquisition, the director directly owned 30,000 shares in the company, valued at $794,700. This represents a 43.30% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Guy Levy bought 500,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price 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 approximately $20,540,000. The trade was 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 worth $10,723,528 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Alphabet Inc. acquired a new position in Parabilis Medicines in the second quarter valued at approximately $134,647,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Parabilis Medicines during the 2nd quarter worth approximately $526,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Parabilis Medicines during the 2nd quarter worth approximately $113,000.

Parabilis Medicines Company 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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