Jade Biosciences (NASDAQ:JBIO) Trading Up 5.8% – Still a Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price shot up 5.8% on Tuesday . The stock traded as high as $20.68 and last traded at $20.5760. 130,023 shares were traded during trading, a decline of 79% from the average session volume of 630,000 shares. The stock had previously closed at $19.45.

Analyst Upgrades and Downgrades

Several research firms recently commented on JBIO. Wedbush increased their target price on shares of Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. HC Wainwright boosted their target price on Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a report on Monday, June 1st. Finally, William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.12.

Jade Biosciences Stock Up 5.6%

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -10.16 and a beta of 1.45. The company has a 50-day moving average price of $21.05 and a 200 day moving average price of $17.00.

Jade Biosciences (NASDAQ:JBIO) last posted 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). Equities analysts forecast that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Institutional Trading of Jade Biosciences

A number of hedge funds have recently made changes to their positions in JBIO. Legal & General Group Plc purchased a new position in Jade Biosciences during the second quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences in the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets acquired a new stake in shares of Jade Biosciences during the 2nd quarter valued at $32,000. California State Teachers Retirement System grew its holdings in shares of Jade Biosciences by 40.3% during the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after acquiring an additional 819 shares in the last quarter. Finally, Group One Trading LLC increased its stake in shares of Jade Biosciences by 122.9% in the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after acquiring an additional 22,527 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.