Parabilis Medicines (NASDAQ:PBLS) Stock Price Down 5.2% – Here’s Why

Parabilis Medicines, Inc. (NASDAQ:PBLS) dropped 5.2% on Friday. The company traded as low as $28.40 and last traded at $28.85. Approximately 156,231 shares traded hands during trading, a decline of 78% from the average session volume of 717,889 shares. The stock had previously closed at $30.44.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PBLS. 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 target price on the stock. Weiss Ratings raised Parabilis Medicines from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 18th. Wall Street Zen upgraded Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Zacks Research upgraded Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. Finally, Evercore assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set an “outperform” rating on the stock. 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 given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Parabilis Medicines Stock Down 5.9%

The firm’s 50-day moving average price is $36.51.

Parabilis Medicines (NASDAQ:PBLS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The company had revenue of $0.15 million during the quarter. As a group, research analysts forecast that Parabilis Medicines, Inc. will post -2.05 EPS for the current year.

Institutional Inflows and Outflows

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

About Parabilis Medicines