Parabilis Medicines, Inc.’s Quiet Period Will End Tomorrow (NASDAQ:PBLS)

Parabilis Medicines’ (NASDAQ:PBLS) quiet period is set to end 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, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

A number of analysts recently issued reports on PBLS shares. Leerink Partners started coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating and a $40.00 price target on the stock. Evercore started coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating for the company. Bank of America started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued a “buy” rating and a $45.00 price objective for the company. 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 on the stock. Finally, Wall Street Zen raised shares of 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 assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Parabilis Medicines presently has an average rating of “Buy” and an average target price of $41.67.

Parabilis Medicines Stock Up 1.7%

Parabilis Medicines stock opened at $29.55 on Friday. Parabilis Medicines has a 12 month low of $24.51 and a 12 month high of $34.47.

Insider Buying and Selling

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