Parabilis Medicines (NASDAQ:PBLS) Reaches New 1-Year Low – Should You Sell?

Parabilis Medicines, Inc. (NASDAQ:PBLS) shares hit a new 52-week low during mid-day trading on Friday. The company traded as low as $24.24 and last traded at $24.25, with a volume of 47,788 shares traded. The stock had previously closed at $25.18.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PBLS shares. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Bank of America assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $45.00 target price on the stock. Zacks Research raised Parabilis Medicines to a “hold” rating in a report on Tuesday, July 7th. Finally, Evercore assumed coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating for the company. One investment 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 MarketBeat.com, Parabilis Medicines currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Parabilis Medicines Stock Performance

The company has a market capitalization of $3.03 billion and a price-to-earnings ratio of -11.51. The firm’s fifty day moving average is $35.44.

Parabilis Medicines (NASDAQ:PBLS) last announced its 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 business had revenue of $0.15 million for the quarter. As a group, analysts expect that Parabilis Medicines, Inc. will post -3.09 earnings per share for the current year.

Institutional Trading of Parabilis Medicines

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

About Parabilis Medicines