Parabilis Medicines (NASDAQ:PBLS) Stock Price Down 7.6% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PBLS shares. Weiss Ratings lowered shares of Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Lifesci Capital upgraded shares of Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Zacks Research upgraded 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 research report on Monday, July 6th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Bank of America assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Parabilis Medicines Trading Down 8.6%

The business’s fifty day moving average is $36.32. The stock has a market cap of $3.26 billion and a price-to-earnings ratio of -12.37.

Parabilis Medicines (NASDAQ:PBLS) last released 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 for the quarter. On average, sell-side analysts anticipate that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parabilis Medicines

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

About Parabilis Medicines