Jade Biosciences, Inc. (NASDAQ:JBIO) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $51.75.

Several research firms have commented on JBIO. BTIG Research upped their price objective on shares of Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wedbush lifted their target price on shares of Jade Biosciences from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Guggenheim reiterated a “buy” rating and issued a $47.00 price target on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price target on shares of Jade Biosciences in a research note on Tuesday, August 11th. Finally, Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a report on Tuesday, June 2nd.

Hedge Funds Weigh In On Jade Biosciences

A number of large investors have recently made changes to their positions in JBIO. Engineers Gate Manager LP acquired a new stake in Jade Biosciences during the 2nd quarter worth approximately $503,000. Maven Securities LTD acquired a new position in Jade Biosciences in the 2nd quarter valued at $1,111,000. Squarepoint Ops LLC increased its position in Jade Biosciences by 22.0% during the 2nd quarter. Squarepoint Ops LLC now owns 54,456 shares of the company’s stock worth $1,210,000 after buying an additional 9,806 shares during the period. Corient Private Wealth LP bought a new position in Jade Biosciences during the 2nd quarter worth $1,367,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Jade Biosciences during the second quarter worth $1,896,000.

Jade Biosciences Trading Up 0.1%

Shares of NASDAQ JBIO opened at $14.73 on Friday. The company has a market capitalization of $936.83 million, a P/E ratio of -7.67 and a beta of 1.45. Jade Biosciences has a 12 month low of $7.69 and a 12 month high of $28.00. The stock has a 50 day moving average of $20.17 and a 200-day moving average of $19.74.

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

About Jade Biosciences

Jade Biosciences, Inc (NASDAQ: JBIO) is a clinical-stage biotechnology company focused on developing medicines for autoimmune and inflammatory diseases. The company uses antibody-based drug discovery and development approaches to pursue therapies intended to address significant unmet medical needs.

Jade Biosciences is advancing a pipeline of investigational programs and does not currently have commercially marketed products. Its work is centered on identifying and developing targeted therapies that may modulate biological pathways involved in autoimmune disease.

The company’s activities primarily consist of research, preclinical development and clinical evaluation of its drug candidates.