Avidity Partners Management LP Has $21.61 Million Position in Jade Biosciences, Inc. $JBIO

Avidity Partners Management LP lifted its position in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,400,708 shares of the company’s stock after acquiring an additional 273,522 shares during the period. Jade Biosciences makes up approximately 6.2% of Avidity Partners Management LP’s portfolio, making the stock its 3rd largest position. Avidity Partners Management LP’s holdings in Jade Biosciences were worth $21,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC increased its position in shares of Jade Biosciences by 57.7% during the fourth quarter. Barclays PLC now owns 72,194 shares of the company’s stock valued at $1,114,000 after acquiring an additional 26,427 shares in the last quarter. Marshall Wace LLP boosted its holdings in Jade Biosciences by 2,198.5% in the fourth quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock worth $13,505,000 after purchasing an additional 837,193 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Jade Biosciences by 26.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock worth $216,000 after purchasing an additional 2,940 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in Jade Biosciences by 994.6% in the fourth quarter. Affinity Asset Advisors LLC now owns 714,956 shares of the company’s stock worth $11,032,000 after purchasing an additional 649,639 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Jade Biosciences in the fourth quarter worth approximately $611,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JBIO shares. Jefferies Financial Group restated a “buy” rating on shares of Jade Biosciences in a report on Monday, June 1st. Wall Street Zen cut shares of Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Wedbush raised their target price on shares of Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. Finally, William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.43.

Jade Biosciences Price Performance

Shares of Jade Biosciences stock opened at $15.34 on Friday. The company’s fifty day simple moving average is $20.98 and its 200-day simple moving average is $16.77. The stock has a market capitalization of $757.18 million, a PE ratio of -7.59 and a beta of 1.44. Jade Biosciences, Inc. has a 1-year low of $6.57 and a 1-year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, research analysts anticipate that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

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.