Jade Biosciences, Inc. (NASDAQ:JBIO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $51.5714.

JBIO has been the topic of a number of recent analyst reports. Wedbush lifted their price objective on Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a research report on Monday, June 1st. Guggenheim reiterated a “buy” rating and set a $47.00 price target on shares of Jade Biosciences in a report on Tuesday, June 2nd. Finally, Weiss Ratings cut Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th.

Hedge Funds Weigh In On Jade Biosciences

Several large investors have recently bought and sold shares of JBIO. California State Teachers Retirement System grew its position in Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after purchasing an additional 819 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Jade Biosciences by 3.6% during the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock valued at $429,000 after buying an additional 1,059 shares during the last quarter. Bank of America Corp DE raised its position in shares of Jade Biosciences by 2.9% during the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after buying an additional 1,086 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock valued at $38,000 after buying an additional 1,279 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Jade Biosciences by 16.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock valued at $187,000 after buying an additional 1,709 shares during the period.

Jade Biosciences Price Performance

Jade Biosciences stock opened at $21.70 on Thursday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -10.74 and a beta of 1.49. Jade Biosciences has a fifty-two week low of $6.67 and a fifty-two week high of $28.00. The firm has a fifty day moving average price of $19.64 and a two-hundred day moving average price of $18.42.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings results 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, sell-side analysts expect that Jade Biosciences will post -2.54 earnings per share for the current 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.