Versant Venture Management LLC Purchases Shares of 1,525,820 Jade Biosciences, Inc. $JBIO

Versant Venture Management LLC acquired a new position in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,525,820 shares of the company’s stock, valued at approximately $15,243,000. Jade Biosciences comprises approximately 18.6% of Versant Venture Management LLC’s holdings, making the stock its 3rd largest position. Versant Venture Management LLC owned approximately 1.81% of Jade Biosciences as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in JBIO. Deltec Asset Management LLC bought a new stake in shares of Jade Biosciences during the second quarter worth about $157,000. Geode Capital Management LLC bought a new position in Jade Biosciences in the 2nd quarter valued at about $6,759,000. Intech Investment Management LLC acquired a new position in Jade Biosciences during the 2nd quarter valued at about $230,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Jade Biosciences during the 2nd quarter valued at about $71,000.

Jade Biosciences Stock Up 0.5%

Shares of Jade Biosciences stock opened at $12.65 on Wednesday. The stock’s fifty day simple moving average is $9.11. Jade Biosciences, Inc. has a 12 month low of $6.57 and a 12 month high of $100.10. The company has a market capitalization of $412.77 million, a price-to-earnings ratio of -1.13 and a beta of 1.07.

Jade Biosciences (NASDAQ:JBIO) last announced its earnings results on Friday, November 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.09.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JBIO. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Guggenheim increased their price target on Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings restated a “sell (e)” rating on shares of Jade Biosciences in a research note on Friday, October 31st. Wedbush upped their target price on shares of Jade Biosciences from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Finally, BTIG Research assumed coverage on shares of Jade Biosciences in a report on Thursday, October 9th. They issued a “buy” rating and a $28.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.75.

Jade Biosciences Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.