Zacks Research Downgrades Jade Biosciences (NASDAQ:JBIO) to Strong Sell

Jade Biosciences (NASDAQ:JBIO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Wedbush reaffirmed an “outperform” rating and set a $24.00 price target on shares of Jade Biosciences in a research report on Monday. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Monday. Guggenheim lifted their price target on shares of Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright started coverage on shares of Jade Biosciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Jade Biosciences Stock Down 3.2%

Shares of NASDAQ JBIO opened at $14.02 on Tuesday. Jade Biosciences has a twelve month low of $6.57 and a twelve month high of $100.10. The stock has a market cap of $691.47 million, a price-to-earnings ratio of -3.04 and a beta of 1.03. The company’s fifty day moving average is $14.70 and its 200-day moving average is $12.06.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Friday, March 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.34.

Hedge Funds Weigh In On Jade Biosciences

Several hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in shares of Jade Biosciences by 40.3% during the 4th 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in Jade Biosciences by 40.7% during the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after purchasing an additional 1,279 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Jade Biosciences by 16.5% during 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 purchasing an additional 1,709 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Jade Biosciences by 26.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock valued at $216,000 after purchasing an additional 2,940 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Jade Biosciences in the 2nd quarter valued at $29,000.

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.