Parabilis Medicines (NASDAQ:PBLS) Shares Climb 4.9% – Here’s What Happened

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) traded up 4.9% on Monday. The company traded as high as $25.30 and last traded at $23.87. 197,356 shares changed hands during trading, a decline of 74% from the average daily volume of 753,716 shares. The stock had previously closed at $22.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PBLS shares. Weiss Ratings raised shares of Parabilis Medicines from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Leerink Partners assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating and a $40.00 price target on the stock. Evercore assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating on the stock. Finally, 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 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned 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.com, Parabilis Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Parabilis Medicines Price Performance

The firm has a 50 day moving average of $35.19. The firm has a market capitalization of $3.18 billion and a PE ratio of -12.09.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd purchased a new position in Parabilis Medicines in the 2nd quarter worth about $955,000. Squarepoint Ops LLC purchased a new stake in Parabilis Medicines in the 2nd quarter valued at about $1,327,000. Frazier Life Sciences Management L.P. purchased a new stake in Parabilis Medicines in the 2nd quarter valued at about $52,572,000. ICONIQ Capital LLC bought a new position in Parabilis Medicines in the 2nd quarter worth about $9,580,000. Finally, Alyeska Investment Group L.P. bought a new position in Parabilis Medicines in the 2nd quarter worth about $274,000.

About Parabilis Medicines