Jade Biosciences (NASDAQ:JBIO) Shares Down 3.7% – Should You Sell?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as $15.61 and last traded at $15.62. Approximately 34,369 shares changed hands during trading, a decline of 81% from the average daily volume of 182,299 shares. The stock had previously closed at $16.22.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Guggenheim upped their price target on shares of Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 22nd. Finally, BTIG Research assumed coverage on shares of Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Jade Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Jade Biosciences Stock Down 3.0%

The firm has a fifty day moving average of $12.39 and a 200-day moving average of $9.87. The firm has a market cap of $775.65 million, a P/E ratio of -1.41 and a beta of 1.04.

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

Hedge Funds Weigh In On Jade Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. acquired a new position in shares of Jade Biosciences during the 2nd quarter worth about $17,703,000. Versant Venture Management LLC bought a new position in Jade Biosciences during the 2nd quarter worth approximately $15,243,000. Soleus Capital Management L.P. acquired a new stake in Jade Biosciences in the second quarter worth $7,959,000. Geode Capital Management LLC acquired a new stake in Jade Biosciences in the second quarter worth $6,759,000. Finally, Orbimed Advisors LLC bought a new position in shares of Jade Biosciences during the second quarter worth $5,306,000.

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.