Jounce Therapeutics (NASDAQ:JNCE) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a hold rating to a buy rating in a research report sent to investors on Saturday, Zacks.com reports. They currently have $9.00 price objective on the stock.
According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is 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 a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “
A number of other research firms also recently issued reports on JNCE. TheStreet raised shares of Jounce Therapeutics from a d rating to a c- rating in a report on Wednesday, December 11th. Cowen reissued a hold rating on shares of Jounce Therapeutics in a report on Tuesday, November 12th. BidaskClub downgraded shares of Jounce Therapeutics from a buy rating to a hold rating in a report on Tuesday, January 7th. Finally, ValuEngine downgraded shares of Jounce Therapeutics from a sell rating to a strong sell rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Jounce Therapeutics presently has an average rating of Hold and an average price target of $9.00.
Jounce Therapeutics (NASDAQ:JNCE) last announced its earnings results on Thursday, November 7th. The company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.24 by $0.66. The business had revenue of $119.45 million during the quarter, compared to the consensus estimate of $99.97 million. Jounce Therapeutics had a net margin of 46.11% and a return on equity of 64.54%. Sell-side analysts forecast that Jounce Therapeutics will post 1.92 EPS for the current year.
In other Jounce Therapeutics news, CEO Richard /Ca/ Murray sold 7,150 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $7.78, for a total value of $55,627.00. Following the completion of the sale, the chief executive officer now owns 87,360 shares of the company’s stock, valued at approximately $679,660.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 11,274 shares of company stock valued at $88,207 in the last three months. Insiders own 44.41% of the company’s stock.
Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Jounce Therapeutics by 595.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 16,073 shares of the company’s stock valued at $54,000 after buying an additional 13,763 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Jounce Therapeutics in the 2nd quarter valued at approximately $59,000. Meeder Asset Management Inc. raised its position in shares of Jounce Therapeutics by 300.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 20,139 shares of the company’s stock valued at $68,000 after buying an additional 15,105 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Jounce Therapeutics in the 3rd quarter valued at approximately $113,000. Finally, Algert Global LLC raised its position in shares of Jounce Therapeutics by 107.0% in the 2nd quarter. Algert Global LLC now owns 29,360 shares of the company’s stock valued at $145,000 after buying an additional 15,178 shares in the last quarter. Institutional investors own 70.58% of the company’s stock.
Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company offers vopratelimab, a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors, which is in Phase I/II clinical trial for the treatment of head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, gastric cancer, and other tumor types identified through its translational science platform.
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