Jade Biosciences, Inc. (NASDAQ:JBIO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $47.1250.

Several analysts have recently commented on the company. Wall Street Zen cut Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BTIG Research raised their target price on Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Piper Sandler set a $55.00 price objective on Jade Biosciences in a research report on Tuesday, June 2nd. Wedbush lifted their price objective on Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, HC Wainwright lifted their price objective on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, June 1st.

Institutional Trading of Jade Biosciences

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Jade Biosciences by 2.9% during the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after purchasing an additional 1,086 shares during the last quarter. Stempoint Capital LP acquired a new stake in Jade Biosciences during the first quarter valued at $2,164,000. Janus Henderson Group PLC acquired a new stake in Jade Biosciences during the first quarter valued at $43,557,000. Quantinno Capital Management LP lifted its position in shares of Jade Biosciences by 3.6% in the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after buying an additional 1,059 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Jade Biosciences by 94.0% in the first quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after buying an additional 65,438 shares during the last quarter.

Jade Biosciences Stock Up 5.0%

Shares of Jade Biosciences stock opened at $16.10 on Tuesday. The stock has a market cap of $794.70 million, a PE ratio of -7.97 and a beta of 1.45. The business has a fifty day simple moving average of $21.00 and a 200-day simple moving average of $16.83. Jade Biosciences has a 12 month low of $6.61 and a 12 month high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last issued its 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). Analysts expect that Jade Biosciences will post -2.54 EPS for the current fiscal 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.