Jade Biosciences (NASDAQ:JBIO) Issues Quarterly Earnings Results

Jade Biosciences (NASDAQ:JBIO) issued its quarterly earnings results on Monday. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10), FiscalAI reports.

Jade Biosciences Trading Up 2.9%

Jade Biosciences stock opened at $22.35 on Wednesday. The company has a fifty day simple moving average of $19.84 and a 200-day simple moving average of $18.61. The stock has a market cap of $1.10 billion, a P/E ratio of -11.64 and a beta of 1.49. Jade Biosciences has a 12-month low of $6.67 and a 12-month high of $28.00.

Institutional Trading of Jade Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of Jade Biosciences during the 2nd quarter worth about $1,896,000. Bank of America Corp DE raised its position in shares of Jade Biosciences by 2.9% during the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after acquiring an additional 1,086 shares in the last quarter. Stempoint Capital LP acquired a new stake in shares of Jade Biosciences during the 1st quarter worth about $2,164,000. Janus Henderson Group PLC purchased a new stake in Jade Biosciences during the first quarter worth approximately $43,557,000. Finally, Quantinno Capital Management LP lifted its stake in Jade Biosciences by 3.6% during the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after purchasing an additional 1,059 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JBIO shares. Weiss Ratings cut Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Wedbush upped their price target on Jade Biosciences from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group initiated coverage on Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 price target on the stock. Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright lifted their price objective on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Two investment 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 company’s stock. According to MarketBeat.com, Jade Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

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.