Jade Biosciences (NASDAQ:JBIO) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Jade Biosciences (NASDAQ:JBIO) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other research firms have also issued reports on JBIO. BTIG Research restated a “buy” rating and issued a $77.00 price target on shares of Jade Biosciences in a research report on Tuesday, October 27th. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Jade Biosciences in a research report on Thursday, October 1st. Jefferies Financial Group reissued a “buy” rating and set a $48.00 price objective on shares of Jade Biosciences in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, September 11th. Finally, Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Jade Biosciences in a report on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Price Performance

Shares of JBIO traded up $0.27 during mid-day trading on Friday, hitting $16.14. The company’s stock had a trading volume of 593,498 shares, compared to its average volume of 829,735. The firm has a 50-day moving average price of $15.32 and a 200 day moving average price of $18.14. Jade Biosciences has a fifty-two week low of $9.60 and a fifty-two week high of $28.00. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.41 and a beta of 1.81.

Jade Biosciences (NASDAQ:JBIO) last released its earnings results on Friday, November 13th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.31. As a group, equities analysts anticipate that Jade Biosciences will post -2.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of Jade Biosciences by 10.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 179,432 shares of the company’s stock valued at $2,521,000 after acquiring an additional 16,348 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Jade Biosciences by 64.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,205,972 shares of the company’s stock worth $16,944,000 after purchasing an additional 472,204 shares during the period. Profund Advisors LLC grew its position in Jade Biosciences by 21.5% during the 3rd quarter. Profund Advisors LLC now owns 26,008 shares of the company’s stock worth $365,000 after purchasing an additional 4,596 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Jade Biosciences during the 2nd quarter worth approximately $503,000. Finally, Maven Securities LTD purchased a new position in Jade Biosciences during the 2nd quarter worth approximately $1,111,000.

Jade Biosciences Company 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.