Jade Biosciences (NASDAQ:JBIO) Trading Down 9.6% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price was down 9.6% during mid-day trading on Wednesday . The company traded as low as $24.28 and last traded at $23.9020. Approximately 390,435 shares changed hands during trading, a decline of 12% from the average daily volume of 443,969 shares. The stock had previously closed at $26.45.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, April 24th. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a report on Friday, March 6th. Zacks Research raised shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. Finally, Wedbush reiterated an “outperform” rating and set a $24.00 price target on shares of Jade Biosciences in a research report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

Jade Biosciences Trading Down 0.7%

The stock’s fifty day moving average price is $16.98 and its 200 day moving average price is $14.53. The stock has a market cap of $1.19 billion, a P/E ratio of -5.26 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.34. As a group, sell-side analysts forecast that Jade Biosciences, Inc. will post -2.21 earnings per share for the current year.

Institutional Trading of Jade Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of JBIO. RA Capital Management L.P. lifted its stake in shares of Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after buying an additional 2,608,757 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Jade Biosciences in the 4th quarter worth approximately $25,323,000. Remedium Capital Partners LLC bought a new position in Jade Biosciences in the 4th quarter valued at approximately $24,345,000. Aberdeen Group plc purchased a new stake in Jade Biosciences during the 4th quarter valued at $13,382,000. Finally, Marshall Wace LLP boosted its stake in Jade Biosciences by 2,198.5% during the 4th quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock valued at $13,505,000 after purchasing an additional 837,193 shares during 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.