Parabilis Medicines (NASDAQ:PBLS) Shares Up 6% - What's Next?

Key Points

• Parabilis Medicines shares jumped 6% to approximately $33.06, although trading volume was 46% below the stock’s average daily volume.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $41.67; Guggenheim initiated coverage with a $40 target.
• The company reported a significant quarterly earnings miss, posting a loss of $2.32 per share versus the expected $0.16 loss, while several institutional investors—including Frazier Life Sciences Management—established new positions.

Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report)'s share price shot up 6% during trading on Monday. The stock traded as high as $33.16 and last traded at $33.06. 390,284 shares were traded during trading, a decline of 46% from the average daily volume of 723,715 shares. The stock had previously closed at $31.20.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Guggenheim started coverage on Parabilis Medicines in a report on Monday, July 6th. They set a "buy" rating and a $40.00 price objective for the company. Evercore began coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating on the stock. Weiss Ratings raised Parabilis Medicines from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 18th. Lifesci Capital upgraded Parabilis Medicines to a "strong-buy" rating in a report on Monday, July 6th. Finally, Wall Street Zen raised shares of Parabilis Medicines to a "hold" rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Parabilis Medicines Stock Up 4.2%

The company has a 50 day moving average price of $36.38.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($2.16). The company had revenue of $0.15 million during the quarter. On average, equities analysts expect that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Institutional Trading of Parabilis Medicines

A number of institutional investors and hedge funds have recently modified their holdings of PBLS. WINTON GROUP Ltd bought a new stake in shares of Parabilis Medicines during the 2nd quarter worth $955,000. Squarepoint Ops LLC acquired a new position in Parabilis Medicines during the 2nd quarter worth $1,327,000. Frazier Life Sciences Management L.P. bought a new stake in Parabilis Medicines during the second quarter valued at about $52,572,000. ICONIQ Capital LLC bought a new stake in Parabilis Medicines during the second quarter valued at about $9,580,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Parabilis Medicines in the second quarter valued at about $274,000.

Parabilis Medicines Company Profile

Parabilis Medicines Inc is a clinical-stage biopharmaceutical company built to develop transformative medicines addressing some of the most consequential, yet historically undruggable, protein targets driving human disease. Parabilis Medicines Inc is based in CAMBRIDGE, Mass.

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