Jade Biosciences, Inc. (NASDAQ:JBIO – Get Free Report) shares fell 8.3% on Friday . The stock traded as low as $21.07 and last traded at $20.6090. 72,267 shares were traded during trading, a decline of 89% from the average session volume of 679,921 shares. The stock had previously closed at $22.48.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on JBIO shares. Wedbush boosted their target price on Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. BTIG Research lifted their price target on Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Piper Sandler set a $55.00 price objective on Jade Biosciences in a report on Tuesday, June 2nd. UBS Group assumed coverage on shares of Jade Biosciences in a research note on Monday, June 15th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Guggenheim reissued a “buy” rating and issued a $47.00 target price on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.12.
Check Out Our Latest Analysis on JBIO
Jade Biosciences Trading Down 7.4%
Jade Biosciences (NASDAQ:JBIO – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). On average, analysts anticipate that Jade Biosciences, Inc. will post -2.54 EPS for the current year.
Institutional Trading of Jade Biosciences
Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its position in Jade Biosciences by 40.3% during the fourth 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 last quarter. Legal & General Group Plc acquired a new position in Jade Biosciences in the 2nd quarter worth about $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Jade Biosciences during the 2nd quarter worth about $31,000. BNP Paribas Financial Markets purchased a new stake in shares of Jade Biosciences during the 2nd quarter worth about $32,000. Finally, Group One Trading LLC grew its stake in shares of Jade Biosciences by 122.9% in the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after buying an additional 22,527 shares in the last quarter.
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.
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