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

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They currently have a $77.00 target price on the stock. BTIG Research‘s target price points to a potential upside of 428.34% from the company’s previous close.

A number of other research firms also recently issued reports on JBIO. Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of Jade Biosciences in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, September 11th. Wedbush reaffirmed an “outperform” rating and set a $47.00 price target on shares of Jade Biosciences in a research report on Thursday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Jade Biosciences in a research report on Thursday, October 1st. Finally, Wall Street Zen downgraded Jade Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, September 12th. 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. Based on data from MarketBeat.com, Jade Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Stock Performance

Jade Biosciences stock traded up $0.07 during trading hours on Tuesday, reaching $14.57. 25,950 shares of the company’s stock traded hands, compared to its average volume of 762,923. Jade Biosciences has a fifty-two week low of $8.36 and a fifty-two week high of $28.00. The firm has a market capitalization of $926.91 million, a price-to-earnings ratio of -7.59 and a beta of 1.64. The firm’s 50 day moving average is $17.36 and its 200-day moving average is $18.11.

Jade Biosciences (NASDAQ:JBIO) last released its earnings results on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). Analysts predict that Jade Biosciences will post -2.89 EPS for the current year.

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new stake in Jade Biosciences during the 2nd quarter valued at $503,000. Maven Securities LTD bought a new position in Jade Biosciences during the 2nd quarter worth $1,111,000. Squarepoint Ops LLC increased its position in Jade Biosciences by 22.0% during the 2nd quarter. Squarepoint Ops LLC now owns 54,456 shares of the company’s stock worth $1,210,000 after buying an additional 9,806 shares during the period. Corient Private Wealth LP bought a new position in Jade Biosciences during the 2nd quarter worth $1,367,000. Finally, Bank of New York Mellon Corp bought a new position in Jade Biosciences during the 2nd quarter worth $1,896,000.

Jade Biosciences Company Profile

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.