Parabilis Medicines (NASDAQ:PBLS) Stock Jumps 6% – What’s Next?

Parabilis Medicines, Inc. (NASDAQ:PBLS)’s stock price traded up 6% during trading on Monday. The stock traded as high as $33.16 and last traded at $33.06. Approximately 390,284 shares were traded during mid-day trading, a decline of 46% from the average session volume of 723,715 shares. The stock had previously closed at $31.20.

Analysts Set New Price Targets

PBLS has been the topic of several research analyst reports. Zacks Research upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Leerink Partners initiated coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating and a $40.00 price objective on the stock. Evercore began coverage on Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating on the stock. 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. Finally, Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Parabilis Medicines has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Parabilis Medicines Price Performance

The stock has a 50-day moving average price of $36.53.

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 analysts’ consensus estimates 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 earnings per share for the current year.

Institutional Investors Weigh In On Parabilis Medicines

A number of hedge funds have recently added to or reduced their stakes in PBLS. ARCH Venture Management LLC purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth $175,517,789. venBio Partners LLC bought a new stake in shares of Parabilis Medicines in the second quarter worth $144,149,497. Alphabet Inc. bought a new stake in shares of Parabilis Medicines during the 2nd quarter valued at about $134,647,000. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Parabilis Medicines during the 2nd quarter valued at about $114,042,000. Finally, Jupiter Topco LLC purchased a new stake in Parabilis Medicines during the second quarter valued at approximately $62,710,000.

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.