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

Jade Biosciences, Inc. (NASDAQ:JBIO) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $51.75.

Several research analysts have recently commented on JBIO shares. Wall Street Zen lowered shares of Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright upped their price objective on shares of Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Guggenheim restated a “buy” rating and set a $47.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. Piper Sandler set a $55.00 target price on Jade Biosciences in a report on Tuesday, June 2nd. Finally, Wedbush upped their price target on Jade Biosciences from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP bought a new position in Jade Biosciences in the 2nd quarter worth $1,367,000. California State Teachers Retirement System grew its position in shares of Jade Biosciences by 57,706.6% in the second quarter. California State Teachers Retirement System now owns 1,002,366 shares of the company’s stock valued at $22,273,000 after purchasing an additional 1,000,632 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Jade Biosciences in the second quarter valued at about $1,896,000. Bank of America Corp DE increased its stake in shares of Jade Biosciences by 2.9% in the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after purchasing an additional 1,086 shares during the period. Finally, Stempoint Capital LP bought a new position in shares of Jade Biosciences in the first quarter worth about $2,164,000.

Jade Biosciences Trading Up 0.3%

Shares of Jade Biosciences stock opened at $19.90 on Monday. Jade Biosciences has a 1 year low of $6.91 and a 1 year high of $28.00. The company has a market cap of $1.27 billion, a P/E ratio of -10.36 and a beta of 1.45. The stock has a 50-day moving average price of $21.35 and a 200 day moving average price of $19.39.

Jade Biosciences (NASDAQ:JBIO) last released its earnings results on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). On average, equities analysts forecast that Jade Biosciences will post -2.84 earnings per share for the current fiscal 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.