Pictet Asset Management Holding SA Acquires 472,204 Shares of Jade Biosciences, Inc. $JBIO

Pictet Asset Management Holding SA increased its holdings in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) by 64.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,205,972 shares of the company’s stock after purchasing an additional 472,204 shares during the period. Pictet Asset Management Holding SA owned approximately 1.90% of Jade Biosciences worth $16,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new stake in Jade Biosciences in the first quarter valued at $43,557,000. Stempoint Capital LP purchased a new position in shares of Jade Biosciences during the 1st quarter valued at about $2,164,000. Renaissance Technologies LLC raised its stake in shares of Jade Biosciences by 94.0% during the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock valued at $1,897,000 after buying an additional 65,438 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Jade Biosciences in the 2nd quarter valued at about $1,896,000. Finally, Corient Private Wealth LP acquired a new position in shares of Jade Biosciences in the 2nd quarter valued at about $1,367,000.

Wall Street Analyst Weigh In

Several research firms recently commented on JBIO. Wall Street Zen lowered Jade Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, September 12th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Jade Biosciences in a research report on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Jade Biosciences in a research note on Thursday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, September 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Jade Biosciences in a report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Trading Down 4.1%

Shares of Jade Biosciences stock opened at $15.87 on Friday. The firm has a 50-day simple moving average of $15.40 and a two-hundred day simple moving average of $18.14. Jade Biosciences, Inc. has a fifty-two week low of $9.51 and a fifty-two week high of $28.00.

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

Jade Biosciences Profile

Jade Biosciences is a biotechnology company developing antibody-based treatments for autoimmune diseases. Its research focuses on targets involved in immune activity that can contribute to chronic disease. The company’s lead program, JADE101, is an antibody designed to block APRIL, a protein involved in the production of antibodies. Jade is developing the candidate for IgA nephropathy, a kidney disease in which abnormal IgA antibodies can damage the kidneys. Jade’s pipeline is focused on potential therapies for autoimmune conditions.