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

Jade Biosciences, Inc. (NASDAQ:JBIO) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 1,345,619 shares, a drop of 13.0% from the December 31st total of 1,546,739 shares. Based on an average trading volume of 314,286 shares, the short-interest ratio is presently 4.3 days. Approximately 3.6% of the company’s shares are sold short. Approximately 3.6% of the company’s shares are sold short. Based on an average trading volume of 314,286 shares, the short-interest ratio is presently 4.3 days.

Institutional Trading of Jade Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of Jade Biosciences during the 2nd quarter valued at $29,000. Russell Investments Group Ltd. bought a new position in shares of Jade Biosciences in the second quarter worth approximately $31,000. BNP Paribas Financial Markets bought a new stake in Jade Biosciences during the 2nd quarter valued at $32,000. Ameritas Investment Partners Inc. purchased a new position in shares of Jade Biosciences in the second quarter valued at about $33,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Jade Biosciences by 4,180.3% during 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 during the period.

Jade Biosciences Stock Performance

Shares of JBIO opened at $17.03 on Wednesday. The business has a 50-day moving average of $14.77 and a 200 day moving average of $10.84. The firm has a market cap of $839.75 million, a P/E ratio of -1.53 and a beta of 1.02. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10.

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

Analyst Upgrades and Downgrades

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

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.