Jade Biosciences (NASDAQ:JBIO) Stock Price Up 4.5% – Still a Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO) rose 4.5% on Wednesday . The stock traded as high as $17.27 and last traded at $17.08. Approximately 23,113 shares traded hands during trading, a decline of 87% from the average daily volume of 182,031 shares. The stock had previously closed at $16.35.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. BTIG Research assumed coverage on shares of Jade Biosciences in a report on Thursday, October 9th. They issued a “buy” rating and a $28.00 target price on the stock. Wall Street Zen upgraded shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Jade Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

Jade Biosciences Trading Up 3.5%

The stock’s 50 day moving average price is $11.86 and its two-hundred day moving average price is $9.62. The firm has a market capitalization of $778.32 million, a price-to-earnings ratio of -1.52 and a beta of 1.04.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09.

Institutional Investors Weigh In On Jade Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in shares of Jade Biosciences in the second quarter valued at $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences during the 2nd quarter worth about $31,000. BNP Paribas Financial Markets acquired a new position in Jade Biosciences in the 2nd quarter valued at about $32,000. Ameritas Investment Partners Inc. purchased a new position in Jade Biosciences in the 2nd quarter valued at about $33,000. Finally, New York State Common Retirement Fund lifted its holdings in Jade Biosciences by 4,180.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after purchasing an additional 5,100 shares in the last quarter.

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.