Jounce Therapeutics, Inc. (NASDAQ:JNCE) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Jounce Therapeutics, Inc. (NASDAQ:JNCE) issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.04, MarketWatch Earnings reports. The business had revenue of $20.29 million during the quarter, compared to analyst estimates of $19.94 million. During the same quarter last year, the firm posted ($7.23) earnings per share.
Shares of Jounce Therapeutics (JNCE) traded up 6.97% during mid-day trading on Friday, reaching $14.28. 176,269 shares of the company were exchanged. The company has a market capitalization of $458.87 million and a price-to-earnings ratio of 528.89. The firm’s 50-day moving average is $13.20 and its 200-day moving average is $19.40. Jounce Therapeutics has a 12 month low of $11.05 and a 12 month high of $29.29.
A number of analysts have recently commented on JNCE shares. Zacks Investment Research upgraded Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Wednesday, April 26th. Cowen and Company restated a “buy” rating on shares of Jounce Therapeutics in a report on Friday, June 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $23.67.
A number of hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in Jounce Therapeutics by 26.4% in the second quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock valued at $158,000 after buying an additional 2,347 shares in the last quarter. Nationwide Fund Advisors raised its stake in Jounce Therapeutics by 203.3% in the second quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock valued at $168,000 after buying an additional 8,007 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Jounce Therapeutics by 46.0% in the second quarter. Bank of New York Mellon Corp now owns 25,574 shares of the company’s stock valued at $359,000 after buying an additional 8,063 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Jounce Therapeutics by 180.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,600 shares of the company’s stock valued at $177,000 after buying an additional 8,100 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in Jounce Therapeutics during the first quarter valued at about $212,000. Institutional investors own 40.83% of the company’s stock.
Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc is a clinical-stage immunotherapy company. The Company is engaged in developing therapies that enable the immune system to attack tumors. Through the use of its Translational Science Platform, the Company first focuses on specific cell types within tumors to prioritize targets, and then identify related biomarkers designed to match the right therapy to the right patient.
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