Parabilis Medicines (NASDAQ:PBLS) Stock Price Up 4.9% – Still a Buy?

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings raised shares of Parabilis Medicines from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating and a $40.00 target price for the company. Zacks Research upgraded shares of Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Finally, Evercore began coverage on Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Parabilis Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Parabilis Medicines Price Performance

The company’s 50 day simple moving average is $34.80.

Parabilis Medicines (NASDAQ:PBLS) last released 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 company had revenue of $0.15 million during the quarter. On average, equities research analysts forecast that Parabilis Medicines, Inc. will post -3.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Parabilis Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alphabet Inc. acquired a new position in shares of Parabilis Medicines during the second quarter worth approximately $134,647,000. General Catalyst Group Management LLC bought a new stake in shares of Parabilis Medicines during the second quarter valued at approximately $43,818,000. WINTON GROUP Ltd acquired a new stake in shares of Parabilis Medicines in the second quarter valued at approximately $955,000. Squarepoint Ops LLC acquired a new stake in shares of Parabilis Medicines in the second quarter valued at approximately $1,327,000. Finally, ICONIQ Capital LLC acquired a new stake in shares of Parabilis Medicines in the second quarter valued at approximately $9,580,000.

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.