Stempoint Capital LP Acquires Shares of 154,034 Jade Biosciences, Inc. $JBIO

Stempoint Capital LP acquired a new position in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) during the first quarter, HoldingsChannel.com reports. The fund acquired 154,034 shares of the company’s stock, valued at approximately $2,164,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. RA Capital Management L.P. grew its stake in shares of 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 buying an additional 2,608,757 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Jade Biosciences during the 1st quarter worth approximately $43,557,000. Baker BROS. Advisors LP acquired a new position in Jade Biosciences during the 4th quarter worth approximately $25,323,000. Remedium Capital Partners LLC purchased a new position in Jade Biosciences in the 4th quarter worth approximately $24,345,000. Finally, Avidity Partners Management LP boosted its holdings in Jade Biosciences by 24.3% in the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after acquiring an additional 273,522 shares during the period.

Wall Street Analysts Forecast Growth

JBIO has been the topic of a number of analyst reports. Wedbush lifted their price objective 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. Jefferies Financial Group restated a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. UBS Group initiated coverage on shares of Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 price target for the company. HC Wainwright lifted their price target on shares of Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Piper Sandler set a $55.00 price target 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 issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.57.

Jade Biosciences Stock Down 1.8%

Shares of NASDAQ JBIO opened at $19.35 on Thursday. Jade Biosciences, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $28.00. The business has a 50 day moving average price of $19.82 and a two-hundred day moving average price of $18.20. The firm has a market cap of $955.12 million, a PE ratio of -9.58 and a beta of 1.43.

Jade Biosciences (NASDAQ:JBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, analysts anticipate that Jade Biosciences, Inc. will post -2.54 earnings per share for the current year.

Jade Biosciences 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.