Zacks Investment Research upgraded shares of Jounce Therapeutics, Inc. (NASDAQ:JNCE) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “

A number of other research analysts also recently issued reports on the company. Robert W. Baird reiterated a buy rating and issued a $30.00 price target on shares of Jounce Therapeutics in a report on Friday, November 10th. J P Morgan Chase & Co set a $28.00 price target on Jounce Therapeutics and gave the company a buy rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $23.67.

Shares of Jounce Therapeutics (NASDAQ JNCE) traded down $0.13 during trading hours on Wednesday, hitting $14.00. The stock had a trading volume of 183,200 shares, compared to its average volume of 158,913. Jounce Therapeutics has a twelve month low of $11.05 and a twelve month high of $29.29.

Jounce Therapeutics (NASDAQ:JNCE) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.12. Jounce Therapeutics had a negative return on equity of 1.66% and a negative net margin of 2.03%. The business had revenue of $18.10 million for the quarter, compared to the consensus estimate of $20.00 million. Jounce Therapeutics’s quarterly revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that Jounce Therapeutics will post -0.76 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new position in Jounce Therapeutics during the 3rd quarter worth $124,000. American International Group Inc. grew its stake in Jounce Therapeutics by 132.2% during the 3rd quarter. American International Group Inc. now owns 9,559 shares of the company’s stock worth $149,000 after buying an additional 5,442 shares during the last quarter. Teachers Advisors LLC grew its stake in Jounce Therapeutics by 26.4% during the 2nd quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock worth $158,000 after buying an additional 2,347 shares during the last quarter. Ark Investment Management LLC grew its stake in Jounce Therapeutics by 558.9% during the 2nd quarter. Ark Investment Management LLC now owns 11,932 shares of the company’s stock worth $167,000 after buying an additional 10,121 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in Jounce Therapeutics by 203.3% during the 2nd quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock worth $168,000 after buying an additional 8,007 shares during the last quarter. Hedge funds and other institutional investors own 44.47% of the company’s stock.

About Jounce Therapeutics

Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.

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