Jade Biosciences, Inc. (NASDAQ:JBIO) Short Interest Update

Jade Biosciences, Inc. (NASDAQ:JBIO) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 1,345,619 shares, a decline of 13.0% from the December 31st total of 1,546,739 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average daily trading volume, of 314,286 shares, the days-to-cover ratio is currently 4.3 days. Based on an average daily trading volume, of 314,286 shares, the days-to-cover ratio is currently 4.3 days. Currently, 3.6% of the company’s shares are sold short.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $16.65 on Tuesday. The stock’s 50 day moving average price is $14.68 and its 200 day moving average price is $10.79. Jade Biosciences has a 12 month low of $6.57 and a 12 month high of $100.10. The stock has a market cap of $821.01 million, a price-to-earnings ratio of -1.49 and a beta of 1.02.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.09.

Wall Street Analysts Forecast Growth

JBIO has been the subject of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Guggenheim boosted their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. HC Wainwright assumed coverage on Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price target on the stock. BTIG Research assumed coverage on shares of Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 price target for the company. Finally, Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Jade Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in JBIO. Legal & General Group Plc acquired a new stake in Jade Biosciences in the 2nd quarter worth $29,000. Russell Investments Group Ltd. acquired a new position in shares of Jade Biosciences in the second quarter valued at $31,000. BNP Paribas Financial Markets acquired a new position in Jade Biosciences in the second quarter worth about $32,000. Ameritas Investment Partners Inc. bought a new stake in shares of Jade Biosciences in the 2nd quarter valued at approximately $33,000. Finally, New York State Common Retirement Fund raised its stake in shares of Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after acquiring an additional 5,100 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.