Jade Biosciences (NASDAQ:JBIO) Shares Gap Up – Here’s Why

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) gapped up before the market opened on Monday . The stock had previously closed at $14.39, but opened at $15.31. Jade Biosciences shares last traded at $14.64, with a volume of 10,290 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HC Wainwright started coverage on shares of Jade Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $25.00 price target on the stock. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Finally, Guggenheim upped their price objective on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Jade Biosciences Stock Performance

The firm’s 50 day moving average price is $14.93 and its two-hundred day moving average price is $10.97. The company has a market cap of $713.02 million, a P/E ratio of -1.30 and a beta of 1.02.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in 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 buying an additional 1,279 shares in the last quarter. Legal & General Group Plc bought a new position in Jade Biosciences in the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets bought a new position in Jade Biosciences during the 2nd quarter valued at about $32,000. Ameritas Investment Partners Inc. bought a new position in shares of Jade Biosciences during the 2nd quarter valued at $33,000. Finally, New York State Common Retirement Fund increased its holdings in Jade Biosciences by 4,180.3% during the third 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 last quarter.

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.