Parabilis Medicines, Inc. (NASDAQ:PBLS) Sees Significant Increase in Short Interest

Parabilis Medicines, Inc. (NASDAQ:PBLS) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,116,504 shares, a growth of ∞ from the May 31st total of 0 shares. Based on an average daily volume of 838,555 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.9% of the company’s stock are sold short.

Insider Activity at Parabilis Medicines

In other news, Director Alan Sebulsky acquired 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost 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 in the company, valued at $250,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired 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 directly owned 1,027,000 shares of the company’s stock, valued at $20,540,000. The trade was a 94.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 530,000 shares of company stock valued at $10,723,528 in the last quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th.

Parabilis Medicines Trading Up 1.3%

Shares of NASDAQ PBLS traded up $0.36 during midday trading on Wednesday, reaching $27.73. The company’s stock had a trading volume of 191,347 shares, compared to its average volume of 1,065,125. Parabilis Medicines has a fifty-two week low of $24.51 and a fifty-two week high of $34.47.