Jade Biosciences (NASDAQ:JBIO) Shares Gap Up – Here’s What Happened

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.39, but opened at $15.31. Jade Biosciences shares last traded at $14.64, with a volume of 10,290 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. HC Wainwright assumed coverage on shares of Jade Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Guggenheim upped their target price on Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.80.

Jade Biosciences Trading Down 5.6%

The stock has a market capitalization of $713.02 million, a PE ratio of -1.30 and a beta of 1.02. The company has a 50 day simple moving average of $14.93 and a 200 day simple moving average of $10.97.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Friday, November 14th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.09.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Jade Biosciences during the second quarter valued at $29,000. Russell Investments Group Ltd. bought a new stake in Jade Biosciences in the second quarter worth approximately $31,000. BNP Paribas Financial Markets acquired a new stake in Jade Biosciences in the 2nd quarter worth approximately $32,000. Ameritas Investment Partners Inc. bought a new stake in Jade Biosciences during the second quarter valued at about $33,000. Finally, New York State Common Retirement Fund grew its stake in shares of Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after acquiring an additional 5,100 shares during 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.