Jade Biosciences (NASDAQ:JBIO) Stock Price Up 5.8% – Time to Buy?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIOGet Free Report) were up 5.8% on Tuesday . The stock traded as high as $20.68 and last traded at $20.5760. Approximately 130,023 shares changed hands during trading, a decline of 79% from the average daily volume of 630,000 shares. The stock had previously closed at $19.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JBIO shares. BTIG Research upped their target price on shares of Jade Biosciences from $39.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, June 1st. William Blair raised Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. HC Wainwright increased their target price on Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, June 1st. UBS Group assumed coverage on Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Jade Biosciences in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.12.

View Our Latest Analysis on Jade Biosciences

Jade Biosciences Price Performance

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -10.16 and a beta of 1.45. The company has a 50-day simple moving average of $21.05 and a two-hundred day simple moving average of $17.00.

Jade Biosciences (NASDAQ:JBIOGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). Research analysts anticipate that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in Jade Biosciences in the second quarter worth approximately $154,000. Legal & General Group Plc bought a new stake in shares of Jade Biosciences in the 2nd quarter worth $29,000. Rhumbline Advisers bought a new stake in shares of Jade Biosciences in the 2nd quarter worth $445,000. Russell Investments Group Ltd. acquired a new stake in shares of Jade Biosciences in the second quarter valued at $31,000. Finally, The Manufacturers Life Insurance Company bought a new position in Jade Biosciences during the second quarter valued at about $114,000.

Jade Biosciences Company Profile

(Get Free Report)

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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