Parabilis Medicines (NASDAQ:PBLS) Trading Down 6.3% – What’s Next?

Parabilis Medicines, Inc. (NASDAQ:PBLS)’s share price dropped 6.3% on Monday . The stock traded as low as $38.99 and last traded at $39.10. Approximately 143,629 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 686,670 shares. The stock had previously closed at $41.73.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PBLS shares. Leerink Partners started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating and a $40.00 price target on the stock. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded Parabilis Medicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Evercore started coverage on Parabilis Medicines in a research note on Monday, July 6th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded 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 issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Parabilis Medicines has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Parabilis Medicines Stock Up 3.4%

The business’s fifty day simple moving average is $36.22.

Parabilis Medicines (NASDAQ:PBLS) last posted its quarterly earnings results 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 firm had revenue of $0.15 million for the quarter. On average, analysts forecast that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Institutional Inflows and Outflows

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