Jade Biosciences (NASDAQ:JBIO) Trading Up 5.8% – Time to Buy?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) were up 5.8% on Tuesday . The stock traded as high as $20.68 and last traded at $20.5760. 130,023 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 630,000 shares. The stock had previously closed at $19.45.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JBIO. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. Jefferies Financial Group reissued a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. Guggenheim restated a “buy” rating and set a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a research note on Friday, March 6th. Finally, UBS Group began coverage on shares of Jade Biosciences in a research note on Monday, June 15th. They set a “buy” rating and a $45.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Jade Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $47.12.

Jade Biosciences Price Performance

The company has a 50-day simple moving average of $21.19 and a 200-day simple moving average of $17.14. The stock has a market cap of $1.08 billion, a PE ratio of -10.84 and a beta of 1.44.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). On average, equities analysts expect that Jade Biosciences, Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake 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 in the last quarter. Quantinno Capital Management LP grew its stake in Jade Biosciences by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock valued at $429,000 after acquiring an additional 1,059 shares during the last quarter. Bank of America Corp DE increased its holdings in Jade Biosciences by 2.9% during the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after acquiring an additional 1,086 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Jade Biosciences by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Jade Biosciences by 16.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock valued at $187,000 after buying an additional 1,709 shares during 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.