Jounce Therapeutics (NASDAQ:JNCE) Shares Down 5.9%

Jounce Therapeutics Inc (NASDAQ:JNCE) was down 5.9% during trading on Thursday . The stock traded as low as $5.07 and last traded at $5.26, approximately 980,000 shares traded hands during trading. An increase of 429% from the average daily volume of 185,418 shares. The stock had previously closed at $5.59.

Several equities research analysts have recently commented on JNCE shares. Cowen reaffirmed a “hold” rating on shares of Jounce Therapeutics in a report on Tuesday. Zacks Investment Research raised Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research note on Saturday, November 9th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Jounce Therapeutics in a research note on Sunday, August 11th. Finally, ValuEngine downgraded Jounce Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Jounce Therapeutics currently has an average rating of “Hold” and a consensus price target of $8.75.

The firm has a 50 day moving average of $3.63 and a 200-day moving average of $4.26. The stock has a market capitalization of $156.17 million, a PE ratio of -6.26 and a beta of 3.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 13.60 and a current ratio of 13.60.

Jounce Therapeutics (NASDAQ:JNCE) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.66. The firm had revenue of $119.45 million during the quarter, compared to the consensus estimate of $99.97 million. Jounce Therapeutics had a return on equity of 64.54% and a net margin of 46.11%. On average, sell-side analysts predict that Jounce Therapeutics Inc will post 1.92 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in JNCE. Meeder Asset Management Inc. lifted its stake in Jounce Therapeutics by 249.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,034 shares of the company’s stock worth $25,000 after acquiring an additional 3,594 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Jounce Therapeutics by 595.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 16,073 shares of the company’s stock worth $54,000 after purchasing an additional 13,763 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in Jounce Therapeutics in the 2nd quarter worth about $59,000. Bailard Inc. increased its position in Jounce Therapeutics by 54.1% in the 2nd quarter. Bailard Inc. now owns 22,800 shares of the company’s stock worth $113,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Jounce Therapeutics in the 3rd quarter worth about $113,000. 72.55% of the stock is owned by hedge funds and other institutional investors.

Jounce Therapeutics Company Profile (NASDAQ:JNCE)

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company offers vopratelimab, a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors, which is in Phase I/II clinical trial for the treatment of head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, gastric cancer, and other tumor types identified through its translational science platform.

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