Jade Biosciences (NASDAQ:JBIO) Trading Up 7.9% – What’s Next?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) traded up 7.9% on Thursday . The stock traded as high as $17.76 and last traded at $18.0790. 668,340 shares were traded during mid-day trading, an increase of 78% from the average session volume of 374,710 shares. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. William Blair upgraded Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. HC Wainwright lifted their price objective on Jade Biosciences from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. BTIG Research lifted their price objective on Jade Biosciences from $28.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Finally, Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Jade Biosciences Stock Up 7.0%

The company has a market cap of $884.41 million, a P/E ratio of -3.89 and a beta of 1.03. The company has a fifty day moving average of $14.62 and a 200 day moving average of $13.02.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data on Friday, March 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.34.

Institutional Trading of Jade Biosciences

Large investors have recently modified their holdings of the company. RA Capital Management L.P. increased its holdings in Jade Biosciences by 245.6% during the fourth 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 during the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in Jade Biosciences during the second quarter valued at approximately $17,703,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the fourth quarter valued at approximately $25,323,000. Remedium Capital Partners LLC purchased a new stake in Jade Biosciences during the fourth quarter valued at approximately $24,345,000. Finally, Aberdeen Group plc purchased a new stake in Jade Biosciences during the fourth quarter valued at approximately $13,382,000.

Jade Biosciences Company 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.