Parabilis Medicines (NASDAQ:PBLS) Shares Gap Up – Should You Buy?

Parabilis Medicines, Inc. (NASDAQ:PBLS)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $31.20, but opened at $32.84. Parabilis Medicines shares last traded at $32.06, with a volume of 9,715 shares trading hands.

Analysts Set New Price Targets

PBLS has been the topic of several recent analyst reports. Bank of America assumed 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. Zacks Research raised Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Leerink Partners initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating and a $40.00 price objective for the company. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Evercore started coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.67.

Parabilis Medicines Trading Down 2.7%

The business’s 50-day simple moving average is $36.49.

Parabilis Medicines (NASDAQ:PBLS) last posted its earnings results on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The firm had revenue of $0.15 million for the quarter. Analysts anticipate that Parabilis Medicines, Inc. will post -2.05 EPS for the current year.

Hedge Funds Weigh In On Parabilis Medicines

Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new stake in Parabilis Medicines in the second quarter worth about $955,000. Squarepoint Ops LLC purchased a new position in shares of Parabilis Medicines during the 2nd quarter worth approximately $1,327,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Parabilis Medicines during the 2nd quarter worth approximately $52,572,000. ICONIQ Capital LLC bought a new position in shares of Parabilis Medicines in the 2nd quarter worth approximately $9,580,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Parabilis Medicines in the 2nd quarter worth 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.