Jade Biosciences (NASDAQ:JBIO) Shares Down 5.3% – Time to Sell?

Jade Biosciences, Inc. (NASDAQ:JBIO) shares fell 5.3% during mid-day trading on Friday . The company traded as low as $15.98 and last traded at $16.11. 45,875 shares traded hands during trading, a decline of 84% from the average session volume of 284,316 shares. The stock had previously closed at $17.02.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JBIO. Guggenheim upped their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. BTIG Research began coverage on Jade Biosciences in a report on Thursday, October 9th. They issued a “buy” rating and a $28.00 price target for the company. HC Wainwright started coverage on Jade Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.80.

Jade Biosciences Price Performance

The company has a fifty day moving average price of $14.14 and a 200 day moving average price of $10.47. The company has a market capitalization of $782.55 million, a P/E ratio of -1.42 and a beta of 1.02.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.09.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Jade Biosciences by 40.7% during 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. Legal & General Group Plc bought a new stake in Jade Biosciences during the 2nd quarter valued at $29,000. BNP Paribas Financial Markets acquired a new position in Jade Biosciences during the 2nd quarter worth $32,000. Ameritas Investment Partners Inc. bought a new position in shares of Jade Biosciences in the second quarter worth $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 purchasing an additional 5,100 shares in the last quarter.

Jade Biosciences Company Profile

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.