Jade Biosciences (NASDAQ:JBIO) Given Buy Rating at BTIG Research

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports. They presently have a $77.00 price target on the stock. BTIG Research‘s price objective points to a potential upside of 416.09% from the stock’s previous close.

Several other equities research analysts have also recently commented on JBIO. Wall Street Zen cut shares of Jade Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Jade Biosciences in a research report on Friday, September 11th. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Jade Biosciences in a research report on Thursday, October 1st. Wedbush reiterated an “outperform” rating and set a $47.00 price objective on shares of Jade Biosciences in a research note on Thursday, October 1st. Finally, Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of Jade Biosciences in a report on Tuesday, August 11th. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Stock Performance

NASDAQ JBIO traded up $0.42 during trading hours on Tuesday, reaching $14.92. The company’s stock had a trading volume of 129,939 shares, compared to its average volume of 763,453. The stock has a market cap of $948.91 million, a PE ratio of -7.77 and a beta of 1.64. Jade Biosciences has a fifty-two week low of $8.36 and a fifty-two week high of $28.00. The company’s 50-day moving average is $17.36 and its two-hundred day moving average is $18.11.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Equities analysts expect that Jade Biosciences will post -2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JBIO. Janus Henderson Group PLC bought a new stake in shares of Jade Biosciences in the 1st quarter worth $43,557,000. Stempoint Capital LP purchased a new stake in shares of Jade Biosciences during the 1st quarter valued at $2,164,000. Bank of New York Mellon Corp purchased a new stake in Jade Biosciences during the 2nd quarter valued at about $1,896,000. Renaissance Technologies LLC grew its position in Jade Biosciences by 94.0% during the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after purchasing an additional 65,438 shares during the period. Finally, Corient Private Wealth LP acquired a new stake in shares of Jade Biosciences during the 2nd quarter valued at about $1,367,000.

About Jade Biosciences

Jade Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for autoimmune and other immune-mediated diseases. The company is building a pipeline of antibody-based therapies designed to modulate the immune system and address significant unmet medical needs.

Jade’s development programs include JDB001, an investigational therapeutic being advanced for potential use in immune-mediated conditions. The company’s product candidates remain in clinical development and have not been approved for commercial use.

Jade Biosciences is headquartered in the United States and conducts its research and development activities through a biotechnology-focused operating model.