Jade Biosciences (NASDAQ:JBIO) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Jade Biosciences (NASDAQ:JBIO) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other brokerages also recently issued reports on JBIO. Wedbush lifted their price target on shares of Jade Biosciences from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. Jefferies Financial Group initiated coverage on shares of Jade Biosciences in a report on Monday, July 14th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Guggenheim upgraded shares of Jade Biosciences from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Monday, June 16th.

Jade Biosciences Trading Up 1.9%

Shares of NASDAQ JBIO opened at $7.50 on Friday. The stock has a market capitalization of $6.30 million, a PE ratio of -0.25 and a beta of 1.03. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $105.00. The stock has a fifty day moving average price of $8.66.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.43).

Institutional Trading of Jade Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC purchased a new position in shares of Jade Biosciences in the 2nd quarter worth $101,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences in the 2nd quarter worth about $32,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences in the 2nd quarter worth about $31,000. Legal & General Group Plc bought a new stake in shares of Jade Biosciences in the 2nd quarter worth about $29,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in shares of Jade Biosciences in the 2nd quarter worth about $17,703,000.

Jade Biosciences Company Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.