Jounce Therapeutics Inc (JNCE) Given Consensus Rating of “Buy” by Analysts
Shares of Jounce Therapeutics Inc (NASDAQ:JNCE) have earned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.08.
A number of analysts recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Jounce Therapeutics in a research note on Thursday, August 9th. HC Wainwright set a $13.00 price objective on Jounce Therapeutics and gave the company a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research upgraded Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Tuesday. Raymond James initiated coverage on Jounce Therapeutics in a research note on Thursday, June 28th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Jounce Therapeutics from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 10th.
Shares of NASDAQ:JNCE traded down $0.32 during midday trading on Friday, reaching $5.51. 17,773 shares of the company traded hands, compared to its average volume of 264,469. Jounce Therapeutics has a 12 month low of $5.51 and a 12 month high of $29.25. The firm has a market cap of $200.01 million, a price-to-earnings ratio of -10.47 and a beta of 5.33.
A number of hedge funds and other institutional investors have recently made changes to their positions in JNCE. NumerixS Investment Technologies Inc bought a new position in Jounce Therapeutics in the 2nd quarter worth about $132,000. MetLife Investment Advisors LLC bought a new position in Jounce Therapeutics in the 1st quarter worth about $159,000. Bank of America Corp DE increased its stake in Jounce Therapeutics by 243.4% in the 2nd quarter. Bank of America Corp DE now owns 28,607 shares of the company’s stock worth $219,000 after acquiring an additional 20,276 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Jounce Therapeutics in the 1st quarter worth about $243,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Jounce Therapeutics in the 1st quarter worth about $313,000. Institutional investors and hedge funds own 84.11% of the company’s stock.
About Jounce Therapeutics
Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, a clinical stage monoclonal antibody that binds to and activates the inducible T cell co-stimulator, a protein on the surface of certain T cells found in solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.
Recommended Story: What is a Tariff?
Receive News & Ratings for Jounce Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jounce Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.