Jade Biosciences, Inc. (NASDAQ:JBIO) Short Interest Up 47.9% in December

Jade Biosciences, Inc. (NASDAQ:JBIO) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,546,739 shares, an increase of 47.9% from the December 15th total of 1,046,137 shares. Based on an average daily volume of 465,345 shares, the short-interest ratio is currently 3.3 days. Approximately 4.2% of the shares of the company are short sold. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 465,345 shares, the short-interest ratio is currently 3.3 days.

Jade Biosciences Price Performance

Shares of JBIO remained flat at $14.70 during mid-day trading on Friday. The stock had a trading volume of 271,861 shares, compared to its average volume of 358,181. The stock has a market cap of $724.86 million, a P/E ratio of -1.32 and a beta of 1.02. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The stock’s fifty day moving average price is $13.66 and its 200-day moving average price is $10.34.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.09.

Hedge Funds Weigh In On Jade Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBIO. Legal & General Group Plc acquired a new position in Jade Biosciences during the 2nd quarter worth $29,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences during the second quarter worth $31,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences during the second quarter worth $32,000. Ameritas Investment Partners Inc. acquired a new position in shares of Jade Biosciences during the second quarter valued at $33,000. Finally, New York State Common Retirement Fund boosted its holdings in Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after acquiring an additional 5,100 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on JBIO shares. BTIG Research began coverage on shares of Jade Biosciences in a report on Thursday, October 9th. They set a “buy” rating and a $28.00 price objective on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. HC Wainwright assumed coverage on Jade Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Guggenheim raised their target price on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.80.

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.