Jade Biosciences (NASDAQ:JBIO) Stock Price Down 4.2% – Time to Sell?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price was down 4.2% during trading on Monday . The company traded as low as $18.55 and last traded at $18.9120. 65,607 shares traded hands during trading, a decline of 91% from the average session volume of 702,513 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BTIG Research lifted their price objective on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Wedbush increased their target price on shares of Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Zacks Research raised shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. UBS Group began coverage on shares of Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Wall Street Zen cut Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.57.

Jade Biosciences Price Performance

The company has a market cap of $933.89 million, a P/E ratio of -9.34 and a beta of 1.49. The stock has a 50-day moving average of $19.70 and a 200 day moving average of $18.28.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). Sell-side analysts predict that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Jade Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Jade Biosciences by 2.9% during the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after acquiring an additional 1,086 shares during the period. Stempoint Capital LP acquired a new stake in shares of Jade Biosciences during the 1st quarter worth approximately $2,164,000. Janus Henderson Group PLC bought a new position in Jade Biosciences in the first quarter valued at approximately $43,557,000. Quantinno Capital Management LP increased its stake in Jade Biosciences by 3.6% in the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock valued at $429,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Jade Biosciences by 94.0% during the first quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock valued at $1,897,000 after purchasing an additional 65,438 shares in the last quarter.

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.