Avidity Partners Management LP raised its holdings in shares of Jade Biosciences, Inc. (NASDAQ:JBIO – Free Report) by 24.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,400,708 shares of the company’s stock after buying an additional 273,522 shares during the period. Jade Biosciences comprises approximately 6.2% of Avidity Partners Management LP’s portfolio, making the stock its 3rd largest position. Avidity Partners Management LP owned about 2.84% of Jade Biosciences worth $21,613,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Jade Biosciences during the second quarter worth about $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Jade Biosciences during the second quarter worth about $31,000. BNP Paribas Financial Markets purchased a new stake in shares of Jade Biosciences during the second quarter worth about $32,000. New York State Common Retirement Fund boosted its holdings in shares of Jade Biosciences by 4,180.3% during the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after purchasing an additional 5,100 shares during the period. Finally, Group One Trading LLC boosted its holdings in shares of Jade Biosciences by 122.9% during the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after purchasing an additional 22,527 shares during the period.
Analyst Ratings Changes
A number of research firms have recently weighed in on JBIO. Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. BTIG Research increased their target price on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Zacks Research upgraded shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a report on Friday, March 6th. Finally, William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.43.
Jade Biosciences Stock Down 4.6%
Shares of JBIO opened at $15.34 on Friday. The company has a market capitalization of $757.18 million, a P/E ratio of -7.59 and a beta of 1.44. The firm has a 50 day moving average of $20.98 and a 200 day moving average of $16.77. Jade Biosciences, Inc. has a twelve month low of $6.57 and a twelve month high of $28.00.
Jade Biosciences (NASDAQ:JBIO – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). On average, sell-side analysts expect that Jade Biosciences, Inc. will post -2.54 EPS for the current year.
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.
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