Jounce Therapeutics, Inc. (NASDAQ:JNCE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Jounce Therapeutics, Inc. (NASDAQ:JNCE – Get Rating) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.20.

Several research analysts recently commented on JNCE shares. Piper Sandler lowered their target price on Jounce Therapeutics from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Tuesday, January 3rd. StockNews.com raised Jounce Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 19th. Finally, Raymond James downgraded Jounce Therapeutics from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $16.00 to $3.00 in a research note on Thursday, November 10th.

Hedge Funds Weigh In On Jounce Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Balyasny Asset Management LLC bought a new position in Jounce Therapeutics in the third quarter worth about $26,000. Amalgamated Bank purchased a new position in Jounce Therapeutics during the 1st quarter worth approximately $27,000. BNP Paribas Arbitrage SA grew its position in Jounce Therapeutics by 102.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,115 shares of the company’s stock worth $28,000 after purchasing an additional 4,623 shares in the last quarter. Bender Robert & Associates purchased a new position in shares of Jounce Therapeutics during the 2nd quarter valued at $30,000. Finally, BNP Paribas Arbitrage SNC grew its holdings in shares of Jounce Therapeutics by 118.1% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 19,876 shares of the company’s stock valued at $47,000 after acquiring an additional 10,761 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Jounce Therapeutics Trading Down 1.6 %

Shares of JNCE opened at $1.23 on Thursday. The firm has a market cap of $63.58 million, a P/E ratio of -0.48 and a beta of 0.88. The stock’s 50 day moving average is $0.98 and its two-hundred day moving average is $2.38. Jounce Therapeutics has a 12 month low of $0.58 and a 12 month high of $8.80.

Jounce Therapeutics (NASDAQ:JNCE – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.04. Equities research analysts forecast that Jounce Therapeutics will post -1.98 EPS for the current year.

About Jounce Therapeutics

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Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company develops vopratelimab, a clinical-stage monoclonal antibody, which is in Phase II clinical trial that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors.