Shares of Jade Biosciences, Inc. (NASDAQ:JBIO – Get Free Report) shot up 10% on Tuesday . The company traded as high as $20.40 and last traded at $21.07. Approximately 165,875 shares were traded during trading, a decline of 76% from the average daily volume of 702,496 shares. The stock had previously closed at $19.15.
Wall Street Analyst Weigh In
Several research firms recently issued reports on JBIO. Wall Street Zen cut shares of Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler set a $55.00 price objective on shares of Jade Biosciences in a report on Tuesday, June 2nd. UBS Group started coverage on shares of Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 price objective for the company. 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. Finally, Jefferies Financial Group restated a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jade Biosciences has a consensus rating of “Moderate Buy” and an average target price of $51.57.
Get Our Latest Stock Analysis on JBIO
Jade Biosciences Trading Up 1.6%
Jade Biosciences (NASDAQ:JBIO – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Research analysts anticipate that Jade Biosciences, Inc. will post -2.54 earnings per share for the current fiscal year.
Institutional Trading of Jade Biosciences
Several institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc acquired a new stake in shares of Jade Biosciences during the 4th quarter worth approximately $13,382,000. Stempoint Capital LP acquired a new position in Jade Biosciences during the 1st quarter valued at approximately $2,164,000. Janus Henderson Group PLC acquired a new position in Jade Biosciences during the 1st quarter valued at approximately $43,557,000. Baker BROS. Advisors LP bought a new position in Jade Biosciences during the 4th quarter worth $25,323,000. Finally, Avidity Partners Management LP grew its stake in Jade Biosciences by 24.3% during the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after buying an additional 273,522 shares during the last quarter.
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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