Parabilis Medicines (NASDAQ:PBLS) Shares Down 5.2% - Time to Sell?

Key Points

• PBLS shares fell 5.2% to $28.85, with trading volume down 78% from the average session level; the stock is also below its 50-day moving average of $36.51.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $41.67, including Bank of America’s $45 target.
• Parabilis Medicines reported a substantial quarterly EPS miss, posting a loss of $2.32 per share versus the expected $0.16 loss, while quarterly revenue totaled just $0.15 million.

Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report) shares dropped 5.2% during trading on Friday. The stock traded as low as $28.40 and last traded at $28.85. Approximately 156,231 shares were traded during trading, a decline of 78% from the average session volume of 717,889 shares. The stock had previously closed at $30.44.

Analysts Set New Price Targets

Several research analysts recently weighed in on PBLS shares. Zacks Research upgraded Parabilis Medicines to a "hold" rating in a research note on Tuesday, July 7th. Evercore began coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating for the company. Wall Street Zen raised Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. Weiss Ratings upgraded Parabilis Medicines from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, September 18th. Finally, Bank of America initiated 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Parabilis Medicines Trading Down 5.9%

The company's fifty day simple moving average is $36.51.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last issued its earnings results 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 company had revenue of $0.15 million during the quarter. As a group, analysts anticipate that Parabilis Medicines, Inc. will post -2.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Parabilis Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of PBLS. Persistent Asset Partners Ltd purchased a new position in Parabilis Medicines during the 2nd quarter worth approximately $113,000. Alyeska Investment Group L.P. acquired a new stake in shares of Parabilis Medicines in the second quarter worth $274,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Parabilis Medicines in the second quarter worth $526,000. WINTON GROUP Ltd purchased a new position in shares of Parabilis Medicines during the second quarter worth $955,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Parabilis Medicines during the second quarter worth $1,327,000.

Parabilis Medicines Company Profile

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