Jade Biosciences (NASDAQ:JBIO) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Jade Biosciences (NASDAQ:JBIO) released its earnings results on Thursday. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05), FiscalAI reports.

Jade Biosciences Stock Up 6.6%

Shares of Jade Biosciences stock traded up $1.59 during trading on Friday, reaching $25.81. The company’s stock had a trading volume of 697,493 shares, compared to its average volume of 685,179. The business’s 50-day moving average price is $17.63 and its 200-day moving average price is $14.93. The firm has a market cap of $1.27 billion, a PE ratio of -12.78 and a beta of 1.52. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $28.00.

Analyst Upgrades and Downgrades

JBIO has been the subject of a number of research analyst reports. Guggenheim lifted their price objective on shares of Jade Biosciences from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a research report on Friday, March 6th. HC Wainwright lifted their price objective on shares of Jade Biosciences from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Zacks Research raised shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Jade Biosciences currently has an average rating of “Moderate Buy” and an average price target of $31.17.

Institutional Investors Weigh In On Jade Biosciences

A number of institutional investors have recently modified their holdings of JBIO. Legal & General Group Plc bought a new stake in shares of Jade Biosciences in the second quarter valued at about $29,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences in the second quarter valued at about $31,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences in the second quarter valued at about $32,000. California State Teachers Retirement System boosted its position in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after acquiring an additional 819 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after acquiring an additional 5,100 shares during the period.

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.