Parabilis Medicines (NASDAQ:PBLS) Stock Falls 7.6% – Here’s Why

Parabilis Medicines, Inc. (NASDAQ:PBLS)’s share price fell 7.6% on Thursday. The company traded as low as $26.40 and last traded at $26.62. Approximately 145,388 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 724,424 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

Several brokerages have recently issued reports on PBLS. Leerink Partners started 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. Bank of America initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $45.00 price objective on the stock. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Evercore started coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating for the company. Finally, Guggenheim assumed coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a “buy” rating and a $40.00 target price for the company. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Parabilis Medicines Stock Down 2.2%

The business has a 50-day moving average of $36.11. The firm has a market cap of $3.39 billion and a price-to-earnings ratio of -12.90.

Parabilis Medicines (NASDAQ:PBLS) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The business had revenue of $0.15 million for the quarter. On average, equities analysts anticipate that Parabilis Medicines, Inc. will post -3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PBLS. WINTON GROUP Ltd bought a new position in shares of Parabilis Medicines during the second quarter worth about $955,000. Squarepoint Ops LLC bought a new position in Parabilis Medicines during the 2nd quarter worth approximately $1,327,000. Frazier Life Sciences Management L.P. bought a new position in Parabilis Medicines during the 2nd quarter worth approximately $52,572,000. ICONIQ Capital LLC acquired 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 stake in shares of Parabilis Medicines in the 2nd quarter valued at $274,000.

About Parabilis Medicines