Renaissance Technologies LLC Raises Holdings in Jade Biosciences, Inc. $JBIO

Renaissance Technologies LLC lifted its position in Jade Biosciences, Inc. (NASDAQ:JBIO) by 94.0% during the 1st quarter, HoldingsChannel reports. The firm owned 135,039 shares of the company’s stock after acquiring an additional 65,438 shares during the quarter. Renaissance Technologies LLC’s holdings in Jade Biosciences were worth $1,897,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. RA Capital Management L.P. boosted its stake in Jade Biosciences by 245.6% during the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after buying an additional 2,608,757 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in Jade Biosciences in the 4th quarter worth approximately $25,323,000. Remedium Capital Partners LLC bought a new stake in Jade Biosciences in the 4th quarter worth approximately $24,345,000. Marshall Wace LLP increased its stake in Jade Biosciences by 2,198.5% in the 4th quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock worth $13,505,000 after acquiring an additional 837,193 shares during the last quarter. Finally, Soleus Capital Management L.P. purchased a new stake in shares of Jade Biosciences during the 2nd quarter worth approximately $7,959,000.

Analyst Ratings Changes

A number of research firms have recently commented on JBIO. BTIG Research increased their target price on Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings cut shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Wedbush increased their price objective on shares of Jade Biosciences from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of Jade Biosciences in a research report on Tuesday. Finally, HC Wainwright lifted their price objective on shares of Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Jade Biosciences Stock Up 2.9%

Shares of JBIO opened at $22.35 on Wednesday. The business has a fifty day moving average of $19.84 and a 200 day moving average of $18.61. The company has a market cap of $1.10 billion, a PE ratio of -11.64 and a beta of 1.49. Jade Biosciences, Inc. has a 52-week low of $6.67 and a 52-week high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). As a group, research analysts anticipate that Jade Biosciences, Inc. will post -2.54 earnings per share for the current fiscal year.

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.