Wall Street Zen Upgrades Jade Biosciences (NASDAQ:JBIO) to “Sell”

Jade Biosciences (NASDAQ:JBIO) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms also recently commented on JBIO. Weiss Ratings reissued a “sell (d-)” rating on shares of Jade Biosciences in a research report on Friday, September 11th. BTIG Research reaffirmed a “buy” rating and issued a $77.00 price target on shares of Jade Biosciences in a research report on Tuesday, October 27th. Wedbush reiterated an “outperform” rating and set a $47.00 price target on shares of Jade Biosciences in a research note on Thursday, October 1st. Jefferies Financial Group reissued a “buy” rating and set a $48.00 price objective on shares of Jade Biosciences in a report on Tuesday, August 11th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Jade Biosciences in a report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Jade Biosciences Trading Up 1.7%

JBIO opened at $16.14 on Friday. The company’s fifty day moving average price is $15.32 and its two-hundred day moving average price is $18.14. Jade Biosciences has a 1-year low of $9.60 and a 1-year high of $28.00. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -8.41 and a beta of 1.81.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Friday, November 13th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.31. As a group, equities analysts forecast that Jade Biosciences will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

A number of hedge funds have recently bought and sold shares of JBIO. Profund Advisors LLC grew its stake in shares of Jade Biosciences by 21.5% in the 3rd quarter. Profund Advisors LLC now owns 26,008 shares of the company’s stock worth $365,000 after acquiring an additional 4,596 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Jade Biosciences by 3.6% during the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock valued at $429,000 after purchasing an additional 1,059 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Jade Biosciences during the second quarter valued at about $503,000. Bank of America Corp DE boosted its holdings 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 worth $542,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Maven Securities LTD purchased a new position in Jade Biosciences during the second quarter worth about $1,111,000.

Jade Biosciences Company Profile

Jade Biosciences is a biotechnology company developing antibody-based treatments for autoimmune diseases. Its research focuses on targets involved in immune activity that can contribute to chronic disease. The company’s lead program, JADE101, is an antibody designed to block APRIL, a protein involved in the production of antibodies. Jade is developing the candidate for IgA nephropathy, a kidney disease in which abnormal IgA antibodies can damage the kidneys. Jade’s pipeline is focused on potential therapies for autoimmune conditions.