Jade Biosciences (NASDAQ:JBIO) Releases Earnings Results, Misses Expectations By $0.05 EPS

Jade Biosciences (NASDAQ:JBIO) issued its quarterly earnings results on Thursday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05), FiscalAI reports.

Jade Biosciences Stock Up 6.6%

Shares of NASDAQ JBIO traded up $1.59 during trading hours on Friday, reaching $25.81. 697,493 shares of the stock traded hands, compared to its average volume of 685,179. The company has a market capitalization of $1.27 billion, a P/E ratio of -12.78 and a beta of 1.52. Jade Biosciences has a 52-week low of $6.57 and a 52-week high of $28.00. The company’s 50-day simple moving average is $17.63 and its two-hundred day simple moving average is $14.93.

Hedge Funds Weigh In On Jade Biosciences

A number of large investors have recently modified their holdings of the company. RA Capital Management L.P. raised its holdings in shares of Jade Biosciences by 245.6% during 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 buying an additional 2,608,757 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Jade Biosciences during the 4th quarter valued at about $25,323,000. Remedium Capital Partners LLC bought a new stake in Jade Biosciences in the fourth quarter valued at approximately $24,345,000. Avidity Partners Management LP lifted its position in Jade Biosciences by 24.3% in the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after purchasing an additional 273,522 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Jade Biosciences by 2,198.5% in the fourth quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock valued at $13,505,000 after purchasing an additional 837,193 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JBIO shares. HC Wainwright lifted their price target on Jade Biosciences from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Wedbush reiterated an “outperform” rating and set a $24.00 price target on shares of Jade Biosciences in a research report on Monday, March 9th. William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research report on Monday, March 9th. Finally, Weiss Ratings upgraded Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

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.