Parabilis Medicines, Inc. (NASDAQ:PBLS) Short Interest Update

by · The Markets Daily

Parabilis Medicines, Inc. (NASDAQ:PBLS – Get Free Report) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,769,824 shares, an increase of 148.1% from the June 15th total of 1,116,504 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 1,067,719 shares, the days-to-cover ratio is currently 2.6 days.

Parabilis Medicines Trading Down 4.0%

NASDAQ:PBLS traded down $1.24 on Wednesday, hitting $29.91. The stock had a trading volume of 462,520 shares, compared to its average volume of 845,436. Parabilis Medicines has a 52 week low of $24.51 and a 52 week high of $34.47.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PBLS. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating and a $40.00 price objective on the stock. Guggenheim initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set a “buy” rating and a $40.00 target price for the company. Lifesci Capital upgraded shares of Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Wall Street Zen raised shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Finally, Evercore initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating for the company. One equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $41.67.

Get Our Latest Report on Parabilis Medicines

Insider Activity at Parabilis Medicines

In other Parabilis Medicines news, major shareholder Guy Levy purchased 500,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Sebulsky bought 9,065 shares of the business’s stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $26.49 per share, for a total transaction of $240,131.85. Following the completion of the acquisition, the director directly owned 30,000 shares in the company, valued at approximately $794,700. This trade represents a 43.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 530,000 shares of company stock worth $10,723,528.

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