Parabilis Medicines (NASDAQ:PBLS) Shares Up 6% – Still a Buy?

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) traded up 6% during trading on Wednesday . The company traded as high as $37.87 and last traded at $37.85. Approximately 164,916 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 551,517 shares. The stock had previously closed at $35.72.

Wall Street Analyst Weigh In

PBLS has been the topic of a number of analyst reports. Evercore initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set an “outperform” rating on the stock. Guggenheim started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued a “buy” rating and a $40.00 target price for the company. Leerink Partners began coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating and a $40.00 price target for the company. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Finally, Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Parabilis Medicines Price Performance

The firm has a 50-day simple moving average of $35.71.

Parabilis Medicines (NASDAQ:PBLS) last released 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 company had revenue of $0.15 million during the quarter. Equities analysts forecast that Parabilis Medicines, Inc. will post -2.05 EPS for the current year.

Institutional Investors Weigh In On Parabilis Medicines

A number of hedge funds have recently made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new position in Parabilis Medicines during the 2nd quarter worth approximately $113,000. Alyeska Investment Group L.P. bought a new position in Parabilis Medicines in the 2nd quarter valued at approximately $274,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Parabilis Medicines in the second quarter valued at approximately $526,000. WINTON GROUP Ltd acquired a new stake in Parabilis Medicines in the second quarter valued at approximately $955,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Parabilis Medicines during the second quarter worth $1,327,000.

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.