Jade Biosciences (NASDAQ:JBIO) Sees Unusually-High Trading Volume on Analyst Upgrade

Jade Biosciences, Inc. (NASDAQ:JBIO) shares saw unusually-strong trading volume on Tuesday after William Blair upgraded the stock to a strong-buy rating. Approximately 685,419 shares changed hands during trading, an increase of 154% from the previous session’s volume of 269,583 shares.The stock last traded at $15.0520 and had previously closed at $14.43.

Other equities research analysts have also recently issued reports about the company. HC Wainwright started coverage on Jade Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $25.00 target price on the stock. Guggenheim increased their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a research report on Friday. Wedbush reaffirmed an “outperform” rating and set a $24.00 target price on shares of Jade Biosciences in a research note on Monday. Finally, Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $25.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JBIO. RA Capital Management L.P. increased its position in Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after acquiring an additional 2,608,757 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in Jade Biosciences in the second quarter valued at $17,703,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the fourth quarter worth about $25,323,000. Remedium Capital Partners LLC acquired a new stake in shares of Jade Biosciences in the 4th quarter worth approximately $24,345,000. Finally, Versant Venture Management LLC purchased a new position in shares of Jade Biosciences in the second quarter valued at $15,243,000.

Jade Biosciences Stock Performance

The stock has a market capitalization of $737.68 million, a PE ratio of -3.26 and a beta of 1.03. The company’s fifty day simple moving average is $14.75 and its two-hundred day simple moving average is $12.00.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.34.

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.