1,641,137 Shares in Jade Biosciences, Inc. $JBIO Acquired by Baker BROS. Advisors LP

Baker BROS. Advisors LP purchased a new stake in Jade Biosciences, Inc. (NASDAQ:JBIO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,641,137 shares of the company’s stock, valued at approximately $25,323,000.

Several other institutional investors also recently modified their holdings of JBIO. JPMorgan Chase & Co. bought a new position in shares of Jade Biosciences in the second quarter valued at $154,000. Legal & General Group Plc bought a new position in shares of Jade Biosciences in the second quarter valued at $29,000. Rhumbline Advisers bought a new position in shares of Jade Biosciences in the second quarter valued at $445,000. Russell Investments Group Ltd. purchased a new position in Jade Biosciences during the 2nd quarter worth approximately $31,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Jade Biosciences during the 2nd quarter worth approximately $114,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Piper Sandler set a $55.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a research report on Friday, March 6th. Guggenheim reiterated a “buy” rating and set a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Weiss Ratings cut shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.13.

Jade Biosciences Stock Up 8.6%

Jade Biosciences stock opened at $16.87 on Thursday. The company’s fifty day simple moving average is $21.01 and its 200-day simple moving average is $16.88. Jade Biosciences, Inc. has a 12 month low of $6.67 and a 12 month high of $28.00. The stock has a market cap of $832.70 million, a P/E ratio of -8.35 and a beta of 1.44.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, equities research analysts expect that Jade Biosciences, Inc. will post -2.54 earnings per share for the current fiscal year.

Jade Biosciences 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.