Jade Biosciences (NASDAQ:JBIO) Stock Price Down 5.3% – Here’s What Happened

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price fell 5.3% on Friday . The stock traded as low as $15.98 and last traded at $16.11. 45,875 shares traded hands during trading, a decline of 84% from the average session volume of 284,316 shares. The stock had previously closed at $17.02.

Analyst Ratings Changes

Several research firms have recently commented on JBIO. Wall Street Zen upgraded shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. BTIG Research began coverage on Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 price target for the company. Guggenheim boosted their price target on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. HC Wainwright initiated coverage on Jade Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Jade Biosciences Stock Down 6.8%

The business’s fifty day moving average is $14.14 and its 200-day moving average is $10.47. The stock has a market capitalization of $782.55 million, a PE ratio of -1.42 and a beta of 1.02.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results 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

Institutional investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. purchased a new stake in Jade Biosciences during the 2nd quarter worth $17,703,000. Versant Venture Management LLC purchased a new stake in shares of Jade Biosciences in the second quarter worth about $15,243,000. Aberdeen Group plc acquired a new stake in shares of Jade Biosciences in the fourth quarter valued at about $13,382,000. Soleus Capital Management L.P. purchased a new stake in shares of Jade Biosciences during the 2nd quarter valued at about $7,959,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Jade Biosciences during the 2nd quarter valued at about $6,759,000.

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.