Parabilis Medicines (NASDAQ:PBLS) Stock Price Down 6.3% - What's Next?

Key Points

• Parabilis Medicines shares fell 6.3% to $39.10 in mid-day trading, with volume down 79% versus the average session.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $41.67, though ratings range from Strong Buy to Sell.
• The company reported a significant quarterly earnings miss, posting a $2.32 loss per share versus the expected $0.16 loss, on just $0.15 million in revenue.

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report) dropped 6.3% during mid-day trading on Monday . The company traded as low as $38.99 and last traded at $39.10. 143,629 shares were traded during trading, a decline of 79% from the average session volume of 686,670 shares. The stock had previously closed at $41.73.

Wall Street Analyst Weigh In

PBLS has been the topic of a number of research analyst reports. Bank of America started coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $45.00 target price on the stock. Wall Street Zen raised shares of Parabilis Medicines to a "hold" rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Parabilis Medicines from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday. Guggenheim assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, Lifesci Capital upgraded shares of Parabilis Medicines to a "strong-buy" rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $41.67.

Parabilis Medicines Stock Performance

The firm's 50 day moving average price is $35.93.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new stake in Parabilis Medicines during the second quarter worth about $955,000. Squarepoint Ops LLC bought a new position in shares of Parabilis Medicines during the second quarter valued at approximately $1,327,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Parabilis Medicines during the second quarter valued at approximately $52,572,000. ICONIQ Capital LLC purchased a new position in shares of Parabilis Medicines during the second quarter valued at approximately $9,580,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Parabilis Medicines during the second quarter valued at approximately $274,000.

About Parabilis Medicines

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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