Jade Biosciences (NASDAQ:JBIO) Trading Down 5.6% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO) shares dropped 5.6% during trading on Monday . The stock traded as low as $15.85 and last traded at $15.9950. Approximately 190,183 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 538,402 shares. The stock had previously closed at $16.94.

Analyst Ratings Changes

JBIO has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. HC Wainwright increased their price target on shares of Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Finally, BTIG Research increased their price target on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.43.

Jade Biosciences Stock Down 7.7%

The stock has a market cap of $772.04 million, a P/E ratio of -7.79 and a beta of 1.45. The firm’s 50-day moving average is $20.86 and its two-hundred day moving average is $16.69.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). Analysts anticipate that Jade Biosciences, Inc. will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after acquiring an additional 819 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Jade Biosciences by 3.6% in the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after acquiring an additional 1,059 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Jade Biosciences by 2.9% in the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after acquiring an additional 1,086 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after acquiring an additional 1,279 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Jade Biosciences by 16.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock worth $187,000 after acquiring an additional 1,709 shares during the last quarter.

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.