Jade Biosciences, Inc. (NASDAQ:JBIO) Short Interest Up 47.9% in December

Jade Biosciences, Inc. (NASDAQ:JBIO) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,546,739 shares, an increase of 47.9% from the December 15th total of 1,046,137 shares. Based on an average daily volume of 465,345 shares, the short-interest ratio is presently 3.3 days. Currently, 4.2% of the shares of the stock are sold short. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily volume of 465,345 shares, the short-interest ratio is presently 3.3 days.

Institutional Trading of Jade Biosciences

Large investors have recently modified their holdings of the stock. Deltec Asset Management LLC bought a new position in Jade Biosciences in the second quarter valued at about $157,000. Geode Capital Management LLC acquired a new stake in shares of Jade Biosciences in the 2nd quarter valued at approximately $6,759,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Jade Biosciences during the 2nd quarter valued at approximately $71,000. Intech Investment Management LLC acquired a new position in Jade Biosciences during the 2nd quarter worth approximately $230,000. Finally, Versant Venture Management LLC acquired a new position in Jade Biosciences during the 2nd quarter worth approximately $15,243,000.

Jade Biosciences Price Performance

JBIO stock remained flat at $14.70 during trading hours on Friday. 271,861 shares of the company’s stock were exchanged, compared to its average volume of 358,181. The company has a market capitalization of $724.86 million, a PE ratio of -1.32 and a beta of 1.02. The company’s fifty day moving average is $13.66 and its 200-day moving average is $10.34. Jade Biosciences has a 12-month low of $6.57 and a 12-month high of $100.10.

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

Analyst Ratings Changes

JBIO has been the subject of a number of research analyst reports. HC Wainwright assumed coverage on shares of Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price target on the stock. Guggenheim boosted their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. BTIG Research started coverage on Jade Biosciences in a research note on Thursday, October 9th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Jade Biosciences Company Profile

Jade Biosciences, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for inflammatory skin diseases and chronic itch. Leveraging a small‐molecule platform, the company seeks to address significant unmet needs in dermatology by targeting key pathways involved in pruritus and skin inflammation. Its research efforts are centered on identifying and advancing molecules that can modulate receptor activity in the skin, with a goal of improving safety and efficacy compared to existing treatments.

The company’s lead programs are built around proprietary compounds designed to penetrate the epidermal barrier and selectively inhibit molecular drivers of itch and inflammation.