Jade Biosciences (NASDAQ:JBIO) Trading Down 4.5% – Here’s What Happened

Jade Biosciences, Inc. (NASDAQ:JBIO)’s share price dropped 4.5% on Monday . The company traded as low as $15.90 and last traded at $16.27. Approximately 43,389 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 181,255 shares. The stock had previously closed at $17.03.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JBIO shares. BTIG Research started coverage on Jade Biosciences in a research note on Thursday, October 9th. They set a “buy” rating and a $28.00 target price on the stock. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Guggenheim upped their price objective on Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Jade Biosciences Price Performance

The company has a market cap of $774.18 million, a price-to-earnings ratio of -1.51 and a beta of 1.04. The company’s fifty day simple moving average is $11.56.

Jade Biosciences (NASDAQ:JBIO) last posted its 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 Trading of Jade Biosciences

A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in shares of Jade Biosciences during the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences in the 2nd quarter worth $31,000. BNP Paribas Financial Markets acquired a new position in Jade Biosciences during the second quarter worth $32,000. Ameritas Investment Partners Inc. acquired a new position in Jade Biosciences during the second quarter worth $33,000. Finally, New York State Common Retirement Fund lifted 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 purchasing an additional 5,100 shares in the last quarter.

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.