Jade Biosciences (NASDAQ:JBIO) Trading Down 4.5% – Here’s Why

Jade Biosciences, Inc. (NASDAQ:JBIO) was down 4.5% on Monday . The company traded as low as $15.90 and last traded at $16.27. Approximately 43,389 shares were traded during trading, a decline of 76% from the average daily volume of 181,255 shares. The stock had previously closed at $17.03.

Wall Street Analyst Weigh In

A number of brokerages have commented on JBIO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday. BTIG Research initiated coverage on Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 target price on the stock. Guggenheim lifted their target price on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Jade Biosciences Stock Up 1.1%

The stock has a 50 day simple moving average of $11.86 and a 200 day simple moving average of $9.62. The stock has a market cap of $760.38 million, a price-to-earnings ratio of -1.48 and a beta of 1.04.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Deltec Asset Management LLC bought a new stake in shares of Jade Biosciences during the second quarter worth about $157,000. Geode Capital Management LLC acquired a new position in Jade Biosciences during the 2nd quarter valued at about $6,759,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Jade Biosciences during the 2nd quarter worth approximately $71,000. Intech Investment Management LLC purchased a new stake in shares of Jade Biosciences in the second quarter worth approximately $230,000. Finally, Versant Venture Management LLC purchased a new stake in shares of Jade Biosciences in the second quarter worth approximately $15,243,000.

About Jade Biosciences

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.