350,000 Shares in Parabilis Medicines, Inc. $PBLS Purchased by ICONIQ Capital LLC

ICONIQ Capital LLC acquired a new position in shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 350,000 shares of the company’s stock, valued at approximately $9,580,000. Parabilis Medicines comprises 0.3% of ICONIQ Capital LLC’s investment portfolio, making the stock its 21st biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new stake in shares of Parabilis Medicines during the second quarter worth approximately $113,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parabilis Medicines in the second quarter valued at approximately $526,000. Finally, Alphabet Inc. acquired a new stake in Parabilis Medicines during the 2nd quarter worth $134,647,000.

Parabilis Medicines Stock Performance

Shares of PBLS stock opened at $39.36 on Monday. The company has a fifty day simple moving average of $31.59. Parabilis Medicines, Inc. has a 1 year low of $24.51 and a 1 year high of $41.49.

Parabilis Medicines (NASDAQ:PBLS) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) earnings per share (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. Research analysts expect that Parabilis Medicines, Inc. will post -2.05 EPS for the current year.

Insider Activity

In other Parabilis Medicines news, Director Alan Sebulsky purchased 12,500 shares of Parabilis Medicines stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the director owned 12,500 shares of the company’s stock, valued at approximately $250,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Guy Levy purchased 500,000 shares of Parabilis Medicines stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider directly owned 1,027,000 shares of the company’s stock, valued at $20,540,000. This trade represents a 94.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 530,000 shares of company stock worth $10,723,528 over the last 90 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on PBLS. Guggenheim initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $40.00 price target on the stock. Evercore started coverage on Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating on the stock. Bank of America initiated coverage on Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $45.00 target price for the company. Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Zacks Research upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.67.

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.