Jade Biosciences (NASDAQ:JBIO) Trading Down 4.6% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s share price fell 4.6% during mid-day trading on Thursday . The company traded as low as $19.92 and last traded at $20.4210. Approximately 151,162 shares were traded during trading, a decline of 79% from the average session volume of 710,283 shares. The stock had previously closed at $21.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on JBIO shares. BTIG Research increased their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wedbush upped their price objective on shares of Jade Biosciences from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings downgraded shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Wall Street Zen downgraded shares of Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.75.

Jade Biosciences Trading Up 0.3%

The firm has a fifty day moving average price of $21.35 and a 200 day moving average price of $19.39. The firm has a market cap of $1.27 billion, a PE ratio of -10.36 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). As a group, equities analysts predict that Jade Biosciences, Inc. will post -2.84 earnings per share for the current year.

Institutional Trading of Jade Biosciences

Several hedge funds have recently made changes to their positions in JBIO. Janus Henderson Group PLC purchased a new stake in shares of Jade Biosciences during the 1st quarter valued at approximately $43,557,000. RA Capital Management L.P. lifted its holdings in Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after acquiring an additional 2,608,757 shares during the last quarter. Baker BROS. Advisors LP purchased a new position in Jade Biosciences in the fourth quarter worth approximately $25,323,000. Remedium Capital Partners LLC purchased a new position in Jade Biosciences in the fourth quarter worth approximately $24,345,000. Finally, California State Teachers Retirement System increased its stake in Jade Biosciences by 57,706.6% during the second quarter. California State Teachers Retirement System now owns 1,002,366 shares of the company’s stock worth $22,273,000 after acquiring an additional 1,000,632 shares during 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.