Jade Biosciences (NASDAQ:JBIO) Stock Price Up 9.7% – Should You Buy?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) rose 9.7% on Thursday . The company traded as high as $20.97 and last traded at $21.1290. Approximately 308,645 shares were traded during trading, a decline of 23% from the average daily volume of 402,305 shares. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

JBIO has been the topic of a number of research analyst reports. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Stifel Nicolaus set a $40.00 price target on Jade Biosciences in a research note on Friday, March 6th. Guggenheim boosted their price target on Jade Biosciences from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Finally, Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Jade Biosciences Price Performance

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.96 and a beta of 1.03. The stock has a fifty day simple moving average of $15.17 and a 200-day simple moving average of $13.55.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.34.

Institutional Trading of Jade Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in JBIO. RA Capital Management L.P. increased its position in shares of Jade Biosciences by 245.6% in 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 in the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of Jade Biosciences in the fourth quarter valued at approximately $25,323,000. Remedium Capital Partners LLC purchased a new stake in shares of Jade Biosciences in the fourth quarter valued at approximately $24,345,000. Aberdeen Group plc purchased a new stake in shares of Jade Biosciences in the fourth quarter valued at approximately $13,382,000. Finally, Marshall Wace LLP increased its position in shares of Jade Biosciences by 2,198.5% in the fourth quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock valued at $13,505,000 after buying an additional 837,193 shares in the last quarter.

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.