Jade Biosciences (NASDAQ:JBIO) Stock Price Up 7.9% – Should You Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price rose 7.9% during mid-day trading on Thursday . The stock traded as high as $17.76 and last traded at $18.0790. Approximately 668,340 shares were traded during trading, an increase of 78% from the average daily volume of 374,710 shares. The stock had previously closed at $16.76.

Analyst Upgrades and Downgrades

JBIO has been the subject of several recent research reports. William Blair raised Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Stifel Nicolaus set a $40.00 price target on Jade Biosciences in a report on Friday, March 6th. BTIG Research boosted their price target on Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a report on Monday, March 16th. HC Wainwright boosted their price target on Jade Biosciences from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Finally, Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.50.

Jade Biosciences Stock Up 7.0%

The stock’s 50 day moving average price is $14.62 and its 200-day moving average price is $13.02. The stock has a market capitalization of $884.41 million, a PE ratio of -3.89 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.34.

Institutional Trading of Jade Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in Jade Biosciences by 40.3% during the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 shares during the period. Legal & General Group Plc bought a new stake in Jade Biosciences during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new stake in Jade Biosciences during the 2nd quarter valued at approximately $31,000. BNP Paribas Financial Markets bought a new stake in Jade Biosciences during the 2nd quarter valued at approximately $32,000. Finally, Group One Trading LLC raised its stake in Jade Biosciences by 122.9% during the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after purchasing an additional 22,527 shares during the period.

About Jade Biosciences

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.