Jade Biosciences, Inc. (NASDAQ:JBIO) Short Interest Up 47.9% in December

Jade Biosciences, Inc. (NASDAQ:JBIO) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,546,739 shares, a growth of 47.9% from the December 15th total of 1,046,137 shares. Based on an average daily volume of 465,345 shares, the short-interest ratio is presently 3.3 days. Currently, 4.2% of the company’s stock are sold short. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 465,345 shares, the short-interest ratio is presently 3.3 days.

Analysts Set New Price Targets

A number of brokerages recently commented on JBIO. Guggenheim boosted their price objective 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. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. BTIG Research assumed coverage on Jade Biosciences in a research note on Thursday, October 9th. They set a “buy” rating and a $28.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. Finally, HC Wainwright initiated coverage on shares of Jade Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Jade Biosciences Stock Performance

Shares of NASDAQ JBIO remained flat at $14.70 during midday trading on Friday. 271,861 shares of the company’s stock were exchanged, compared to its average volume of 358,181. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The company’s 50-day moving average is $13.66 and its 200-day moving average is $10.34. The company has a market cap of $724.86 million, a PE ratio of -1.32 and a beta of 1.02.

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

Institutional Investors Weigh In On Jade Biosciences

A number of large investors have recently bought and sold shares of JBIO. Aberdeen Group plc acquired a new stake in Jade Biosciences during the 4th quarter valued at approximately $13,382,000. Two Sigma Investments LP acquired a new stake in Jade Biosciences during the 3rd quarter worth about $212,000. BNP Paribas Financial Markets raised its stake in shares of Jade Biosciences by 363.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,931 shares of the company’s stock valued at $129,000 after buying an additional 11,709 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Jade Biosciences by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock valued at $38,000 after buying an additional 1,279 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Jade Biosciences by 4,180.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after buying an additional 5,100 shares during the period.

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.