Jade Biosciences (NASDAQ:JBIO) Rating Increased to Strong-Buy at UBS Group

Jade Biosciences (NASDAQ:JBIO) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on JBIO. Guggenheim reaffirmed a “buy” rating and set a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a report on Monday, June 1st. Weiss Ratings upgraded shares of Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Finally, Wedbush boosted their price objective on shares of Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $47.13.

Jade Biosciences Stock Up 5.0%

Shares of NASDAQ JBIO opened at $16.10 on Monday. Jade Biosciences has a twelve month low of $6.61 and a twelve month high of $28.00. The firm has a market cap of $794.70 million, a P/E ratio of -7.97 and a beta of 1.45. The company has a 50 day moving average of $21.00 and a 200 day moving average of $16.83.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, equities analysts expect that Jade Biosciences will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of Jade Biosciences during the 2nd quarter valued at about $29,000. Russell Investments Group Ltd. bought a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of Jade Biosciences in the second quarter worth approximately $32,000. California State Teachers Retirement System grew its position in Jade Biosciences by 40.3% during the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after buying an additional 819 shares during the period. Finally, Group One Trading LLC grew its position in Jade Biosciences by 122.9% during the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after buying an additional 22,527 shares during the period.

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.