Jounce Therapeutics (JNCE) Stock Price Up -2.7% After Strong Earnings
Jounce Therapeutics Inc (NASDAQ:JNCE)’s share price rose 2.7% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $28.75 and last traded at $25.38. Approximately 473,883 shares changed hands during trading, an increase of 36% from the average daily volume of 348,904 shares. The stock had previously closed at $26.08.
The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.25. Jounce Therapeutics had a negative net margin of 22.76% and a negative return on equity of 10.09%. The company had revenue of $13.00 million for the quarter, compared to the consensus estimate of $14.95 million. During the same period last year, the company posted $0.05 EPS. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year.
JNCE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Jounce Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. Robert W. Baird set a $35.00 price target on shares of Jounce Therapeutics and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. set a $28.00 price target on shares of Jounce Therapeutics and gave the company a “buy” rating in a research note on Monday, November 13th.
A number of large investors have recently bought and sold shares of the stock. J. Goldman & Co LP acquired a new stake in Jounce Therapeutics during the 4th quarter worth approximately $638,000. Redmile Group LLC boosted its position in Jounce Therapeutics by 2.6% during the 4th quarter. Redmile Group LLC now owns 980,393 shares of the company’s stock worth $12,500,000 after buying an additional 24,795 shares during the period. Vident Investment Advisory LLC boosted its position in Jounce Therapeutics by 37.6% during the 4th quarter. Vident Investment Advisory LLC now owns 97,466 shares of the company’s stock worth $1,243,000 after buying an additional 26,628 shares during the period. Millennium Management LLC boosted its position in Jounce Therapeutics by 310.4% during the 4th quarter. Millennium Management LLC now owns 246,021 shares of the company’s stock worth $3,137,000 after buying an additional 186,068 shares during the period. Finally, Teachers Advisors LLC boosted its position in Jounce Therapeutics by 59.3% during the 4th quarter. Teachers Advisors LLC now owns 25,542 shares of the company’s stock worth $326,000 after buying an additional 9,507 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.
The company has a market cap of $844.77, a PE ratio of -45.38 and a beta of 8.00.
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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