Jade Biosciences, Inc. (NASDAQ:JBIO) Short Interest Update

Jade Biosciences, Inc. (NASDAQ:JBIO) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 3,061,277 shares, a growth of 144.6% from the March 31st total of 1,251,725 shares. Based on an average trading volume of 809,621 shares, the short-interest ratio is currently 3.8 days. Currently, 8.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms have recently commented on JBIO. BTIG Research upped their price target on shares of Jade Biosciences from $28.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Stifel Nicolaus set a $40.00 price target on shares of Jade Biosciences in a research report on Friday, March 6th. HC Wainwright upped their price target on shares of Jade Biosciences from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Zacks Research upgraded shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded shares of Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Hedge Funds Weigh In On Jade Biosciences

Several large investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its position in shares of Jade Biosciences by 40.3% during the 4th 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after buying an additional 1,279 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Jade Biosciences by 16.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock worth $187,000 after buying an additional 1,709 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Jade Biosciences by 26.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock worth $216,000 after buying an additional 2,940 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of Jade Biosciences in the second quarter worth about $29,000.

Jade Biosciences Trading Down 0.9%

JBIO traded down $0.23 on Friday, reaching $24.98. The company had a trading volume of 766,257 shares, compared to its average volume of 703,257. The company has a fifty day moving average of $16.14 and a 200-day moving average of $14.16. The company has a market capitalization of $1.23 billion, a P/E ratio of -5.42 and a beta of 1.03. Jade Biosciences has a one year low of $6.57 and a one year high of $96.95.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.34. Research analysts predict that Jade Biosciences will post -2.21 EPS for the current year.

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.