Jade Biosciences, Inc. (NASDAQ:JBIO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Jade Biosciences, Inc. (NASDAQ:JBIO) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.75.

JBIO has been the subject of a number of research analyst reports. Guggenheim boosted their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Wedbush boosted their price objective on shares of Jade Biosciences from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. BTIG Research assumed coverage on Jade Biosciences in a research report on Thursday, October 9th. They issued a “buy” rating and a $28.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday. Finally, Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th.

Jade Biosciences Trading Up 3.3%

Jade Biosciences stock opened at $12.40 on Friday. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $100.10. The firm has a market capitalization of $570.40 million, a price-to-earnings ratio of -1.11 and a beta of 1.04. The business has a fifty day simple moving average of $10.22.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.09.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in shares of Jade Biosciences during the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. bought a new position in Jade Biosciences in the second quarter valued at approximately $31,000. BNP Paribas Financial Markets acquired a new stake in Jade Biosciences during the 2nd quarter worth $32,000. Ameritas Investment Partners Inc. bought a new stake in shares of Jade Biosciences during the 2nd quarter valued at $33,000. Finally, New York State Common Retirement Fund raised its position in shares of Jade Biosciences by 4,180.3% during the 3rd 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 last quarter.

About Jade Biosciences

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.