Shares of Jounce Therapeutics Inc (NASDAQ:JNCE) have received a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.75.
A number of research firms have weighed in on JNCE. Zacks Investment Research lowered shares of Jounce Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. HC Wainwright set a $13.00 price target on shares of Jounce Therapeutics and gave the company a “buy” rating in a research report on Wednesday, November 14th. JPMorgan Chase & Co. lowered shares of Jounce Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 13th. Cowen reissued a “hold” rating on shares of Jounce Therapeutics in a research report on Tuesday, November 13th. Finally, Raymond James dropped their price target on shares of Jounce Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 23rd.
Several institutional investors and hedge funds have recently added to or reduced their stakes in JNCE. Millennium Management LLC lifted its position in shares of Jounce Therapeutics by 91.6% during the second quarter. Millennium Management LLC now owns 679,177 shares of the company’s stock valued at $5,202,000 after purchasing an additional 324,681 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Jounce Therapeutics by 153.0% during the third quarter. JPMorgan Chase & Co. now owns 440,029 shares of the company’s stock worth $2,861,000 after buying an additional 266,126 shares during the last quarter. BlackRock Inc. increased its holdings in Jounce Therapeutics by 22.2% during the second quarter. BlackRock Inc. now owns 1,394,905 shares of the company’s stock worth $10,684,000 after buying an additional 253,120 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Jounce Therapeutics by 186.0% during the second quarter. Dimensional Fund Advisors LP now owns 314,831 shares of the company’s stock worth $2,412,000 after buying an additional 204,762 shares during the last quarter. Finally, Bridgeway Capital Management Inc. purchased a new stake in Jounce Therapeutics during the third quarter worth about $1,321,000. 82.60% of the stock is currently owned by institutional investors.
Jounce Therapeutics (NASDAQ:JNCE) last released its quarterly earnings data on Tuesday, November 13th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.11. Jounce Therapeutics had a negative net margin of 59.74% and a negative return on equity of 29.58%. The firm had revenue of $14.53 million for the quarter, compared to analyst estimates of $12.80 million. As a group, sell-side analysts forecast that Jounce Therapeutics will post -1.14 earnings per share for the current fiscal year.
About Jounce Therapeutics
Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, a clinical stage monoclonal antibody that binds to and activates the inducible T cell co-stimulator, a protein on the surface of certain T cells found in solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.
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