Maven Securities LTD Invests $1.11 Million in Jade Biosciences, Inc. $JBIO

Maven Securities LTD bought a new stake in Jade Biosciences, Inc. (NASDAQ:JBIO) in the second quarter, Holdings Channel reports. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $1,111,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legal & General Group Plc bought a new stake in Jade Biosciences during the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. acquired a new stake in Jade Biosciences during the 2nd quarter valued at $31,000. BNP Paribas Financial Markets bought a new position in Jade Biosciences in the 2nd quarter valued at $32,000. California State Teachers Retirement System raised its position in Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 shares during the last quarter. Finally, Group One Trading LLC raised its position in Jade Biosciences by 122.9% in the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after purchasing an additional 22,527 shares during the last quarter.

Jade Biosciences Price Performance

JBIO opened at $19.45 on Wednesday. The firm has a 50 day simple moving average of $21.25 and a 200 day simple moving average of $19.50. Jade Biosciences, Inc. has a fifty-two week low of $6.91 and a fifty-two week high of $28.00. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -10.13 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). As a group, analysts expect that Jade Biosciences, Inc. will post -2.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. HC Wainwright increased their target price on Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Weiss Ratings cut Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Piper Sandler set a $55.00 price objective on shares of Jade Biosciences in a report on Tuesday, June 2nd. BTIG Research boosted their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Guggenheim reiterated a “buy” rating and issued a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.