Versant Venture Management LLC Invests $15.24 Million in Jade Biosciences, Inc. $JBIO

Versant Venture Management LLC acquired a new position in Jade Biosciences, Inc. (NASDAQ:JBIO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,525,820 shares of the company’s stock, valued at approximately $15,243,000. Jade Biosciences accounts for about 18.6% of Versant Venture Management LLC’s portfolio, making the stock its 3rd biggest position. Versant Venture Management LLC owned about 181.43% of Jade Biosciences at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey bought a new position in Jade Biosciences during the 2nd quarter worth approximately $71,000. Deltec Asset Management LLC bought a new stake in shares of Jade Biosciences in the 2nd quarter valued at $157,000. Intech Investment Management LLC acquired a new stake in shares of Jade Biosciences during the second quarter worth $230,000. Finally, Geode Capital Management LLC bought a new position in Jade Biosciences during the second quarter worth $6,759,000.

Jade Biosciences Stock Up 0.5%

Shares of NASDAQ JBIO opened at $12.65 on Wednesday. The firm’s 50-day moving average is $9.11. Jade Biosciences, Inc. has a 1-year low of $6.57 and a 1-year high of $100.10. The firm has a market capitalization of $412.77 million, a price-to-earnings ratio of -1.13 and a beta of 1.07.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Friday, November 14th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.09.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Jade Biosciences in a research report on Friday, October 31st. Guggenheim lifted their price objective on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Wedbush raised their target price on Jade Biosciences from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Finally, BTIG Research began coverage on Jade Biosciences in a research note on Thursday, October 9th. They issued a “buy” rating and a $28.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jade Biosciences presently has an average rating of “Moderate Buy” and an average target price of $19.75.

Jade Biosciences Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.