Parabilis Medicines (NASDAQ:PBLS) Shares Up 4.9% - Here's What Happened

Key Points

• Parabilis Medicines shares rose 4.9% to $23.87 in Monday trading, despite volume falling 74% below the average daily level.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $41.67; Bank of America set the highest cited target at $45.
• The company reported a quarterly loss of $2.32 per share, substantially missing the $0.16 consensus estimate, while reporting only $0.15 million in revenue.

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report) shot up 4.9% during trading on Monday. The stock traded as high as $25.30 and last traded at $23.87. Approximately 197,356 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 753,716 shares. The stock had previously closed at $22.75.

Analyst Upgrades and Downgrades

PBLS has been the subject of a number of research reports. Bank of America assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set a "buy" rating and a $45.00 target price for the company. Evercore initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating on the stock. Zacks Research raised shares of Parabilis Medicines to a "hold" rating in a report on Tuesday, July 7th. Leerink Partners initiated 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. Finally, Lifesci Capital upgraded Parabilis Medicines to a "strong-buy" rating in a research report on Monday, July 6th. One equities 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Parabilis Medicines Stock Performance

The stock has a 50-day simple moving average of $35.19. The firm has a market cap of $3.18 billion and a P/E ratio of -12.09.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($2.16). The business had revenue of $0.15 million for the quarter. On average, analysts forecast that Parabilis Medicines, Inc. will post -3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parabilis Medicines

Several large investors have recently added to or reduced their stakes in PBLS. Persistent Asset Partners Ltd bought a new stake in shares of Parabilis Medicines in the 2nd quarter valued at approximately $113,000. Alyeska Investment Group L.P. bought a new position in shares of Parabilis Medicines during the 2nd quarter valued at approximately $274,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Parabilis Medicines during the 2nd quarter valued at approximately $526,000. WINTON GROUP Ltd bought a new position in shares of Parabilis Medicines during the 2nd quarter valued at approximately $955,000. Finally, Squarepoint Ops LLC purchased a new stake in Parabilis Medicines during the 2nd quarter valued at $1,327,000.

Parabilis Medicines Company Profile

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