Parabilis Medicines (NASDAQ:PBLS) Shares Climb 9.1% – Time to Buy?

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) shot up 9.1% on Tuesday. The stock traded as high as $29.73 and last traded at $29.73. Approximately 108,796 shares were traded during mid-day trading, a decline of 87% from the average session volume of 815,535 shares. The stock had previously closed at $27.25.

Analysts Set New Price Targets

PBLS has been the subject of a number of recent analyst reports. HC Wainwright began coverage on Parabilis Medicines in a report on Thursday, October 22nd. They set a “buy” rating and a $40.00 price target for the company. Weiss Ratings downgraded Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Parabilis Medicines Price Performance

The company has a market cap of $3.44 billion and a price-to-earnings ratio of -13.09. The stock’s 50 day simple moving average is $32.13.

Parabilis Medicines (NASDAQ:PBLS) last posted 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. Research analysts expect that Parabilis Medicines, Inc. will post -2.60 EPS for the current year.

Institutional Trading of Parabilis Medicines

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in shares of Parabilis Medicines by 95.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,075 shares of the company’s stock worth $35,000 after purchasing an additional 525 shares during the period. Sterling Capital Management LLC purchased a new position in shares of Parabilis Medicines in the 3rd quarter worth about $35,000. WINTON GROUP Ltd purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth about $955,000. Squarepoint Ops LLC bought a new position in Parabilis Medicines during the second quarter valued at about $1,327,000. Finally, Frazier Life Sciences Management L.P. bought a new position in Parabilis Medicines during the second quarter valued at about $52,572,000.

Parabilis Medicines Company Profile

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.