Jade Biosciences (NASDAQ:JBIO) Trading Down 5.4% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price traded down 5.4% during trading on Monday . The stock traded as low as $20.02 and last traded at $19.74. 97,980 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 701,074 shares. The stock had previously closed at $20.86.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JBIO. UBS Group assumed coverage on shares of Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 target price on the stock. Zacks Research upgraded shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Piper Sandler set a $55.00 price target on Jade Biosciences in a research note on Tuesday, June 2nd. HC Wainwright raised their price objective on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, BTIG Research boosted their price objective on Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Two 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

Jade Biosciences Price Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of -10.16 and a beta of 1.43. The company has a fifty day moving average of $20.25 and a 200 day moving average of $17.94.

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

Hedge Funds Weigh In On Jade Biosciences

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Jade Biosciences by 2.9% in the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after buying an additional 1,086 shares during the period. Stempoint Capital LP acquired a new stake in Jade Biosciences during the 1st quarter worth about $2,164,000. Janus Henderson Group PLC acquired a new stake in Jade Biosciences during the 1st quarter worth about $43,557,000. Quantinno Capital Management LP raised its position in shares of Jade Biosciences by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after acquiring an additional 1,059 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Jade Biosciences by 94.0% in the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after acquiring an additional 65,438 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.