Parabilis Medicines, Inc. (NASDAQ:PBLS) Short Interest Up 148.1% in June

Parabilis Medicines, Inc. (NASDAQ:PBLS) saw a large increase in short interest in 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. Based on an average daily volume of 1,067,719 shares, the short-interest ratio is presently 2.6 days. Currently, 2.3% of the company’s shares are sold short.

Insider Activity

In other Parabilis Medicines news, Director Alan Sebulsky purchased 12,500 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 $250,000.00. Following the transaction, the director directly owned 12,500 shares in the company, valued at $250,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Guy Levy purchased 500,000 shares of the stock in a transaction dated 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 transaction, the insider owned 1,027,000 shares in the company, 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 bought a total of 530,000 shares of company stock worth $10,723,528 in the last ninety days.

Parabilis Medicines Trading Down 1.1%

Shares of PBLS traded down $0.34 on Thursday, hitting $29.57. The company’s stock had a trading volume of 123,225 shares, compared to its average volume of 819,919. Parabilis Medicines has a fifty-two week low of $24.51 and a fifty-two week high of $34.47.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PBLS. Guggenheim started coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $40.00 target price on the stock. Evercore began coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating for the company. Lifesci Capital upgraded shares of Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Finally, Leerink Partners assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating and a $40.00 price objective for the company. One research 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 company’s stock. According to data from MarketBeat.com, Parabilis Medicines currently has an average rating of “Buy” and a consensus price target of $41.67.