Parabilis Medicines (NASDAQ:PBLS) Stock Price Down 7.7% - What's Next?

Key Points

• Parabilis Medicines shares fell 7.7% to $24.85, with trading volume down 87% from its average. The stock remains well below its 50-day moving average of $34.43.
• Analyst sentiment is broadly positive, with an average rating of “Moderate Buy” and a consensus price target of $41.25, despite one sell rating.
• The company reported a significant quarterly earnings miss, posting a loss of $2.32 per share versus the consensus estimate of $0.16, while quarterly revenue totaled only $0.15 million.

Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report)'s stock price was down 7.7% during trading on Friday. The company traded as low as $24.69 and last traded at $24.85. Approximately 104,770 shares traded hands during trading, a decline of 87% from the average daily volume of 784,275 shares. The stock had previously closed at $26.92.

Analyst Ratings Changes

A number of analysts have recently weighed in on PBLS shares. Weiss Ratings upgraded shares of Parabilis Medicines from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, October 16th. Bank of America assumed coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a "buy" rating and a $45.00 price objective on the stock. HC Wainwright began coverage on shares of Parabilis Medicines in a research report on Thursday. They set a "buy" rating and a $40.00 price target on the stock. Guggenheim assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $40.00 price target for the company. Finally, Evercore began coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Parabilis Medicines currently has an average rating of "Moderate Buy" and an average target price of $41.25.

Parabilis Medicines Price Performance

The company has a market capitalization of $3.02 billion and a PE ratio of -11.46. The stock has a 50 day simple moving average of $34.43.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last posted 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. As a group, sell-side analysts anticipate that Parabilis Medicines, Inc. will post -3.09 earnings per share for the current fiscal year.

Institutional Trading of Parabilis Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of PBLS. Alphabet Inc. acquired a new stake in Parabilis Medicines during the second quarter valued at approximately $134,647,000. General Catalyst Group Management LLC acquired a new position in Parabilis Medicines in the second quarter valued at about $43,818,000. WINTON GROUP Ltd acquired a new position in Parabilis Medicines during the 2nd quarter worth about $955,000. Squarepoint Ops LLC acquired a new position in shares of Parabilis Medicines during the 2nd quarter worth about $1,327,000. Finally, ICONIQ Capital LLC acquired a new stake in Parabilis Medicines during the 2nd quarter worth approximately $9,580,000.

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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