Jade Biosciences (NASDAQ:JBIO) Shares Up 9.7% – What’s Next?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) rose 9.7% on Wednesday . The company traded as high as $24.83 and last traded at $25.2490. Approximately 95,017 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 413,692 shares. The stock had previously closed at $23.01.

Analyst Upgrades and Downgrades

JBIO has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, April 10th. Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a research note on Friday, March 6th. Wedbush reissued an “outperform” rating and issued a $24.00 price objective on shares of Jade Biosciences in a research note on Monday, March 9th. William Blair raised Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Finally, Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Jade Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Jade Biosciences Stock Performance

The company has a 50-day simple moving average of $15.52 and a 200 day simple moving average of $13.82. The company has a market capitalization of $1.27 billion, a P/E ratio of -5.57 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings results on Friday, March 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.34. As a group, sell-side analysts forecast that Jade Biosciences, Inc. will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Jade Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in Jade Biosciences during the second quarter valued at about $29,000. Russell Investments Group Ltd. acquired a new stake in shares of Jade Biosciences during the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets acquired a new stake in shares of Jade Biosciences during the 2nd quarter worth approximately $32,000. California State Teachers Retirement System grew its holdings in shares of Jade Biosciences by 40.3% during the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after purchasing an additional 819 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Jade Biosciences by 4,180.3% during the 3rd 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.