Jade Biosciences (NASDAQ:JBIO) Trading Up 8.1% – What’s Next?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) shot up 8.1% on Tuesday . The company traded as high as $16.44 and last traded at $16.41. 29,173 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 287,699 shares. The stock had previously closed at $15.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JBIO shares. HC Wainwright began coverage on Jade Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $25.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. BTIG Research initiated coverage on shares of Jade Biosciences in a research report on Thursday, October 9th. They issued a “buy” rating and a $28.00 price target on the stock. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Guggenheim upped their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Jade Biosciences Stock Up 5.6%

The company’s fifty day moving average price is $14.31 and its two-hundred day moving average price is $10.55. The company has a market cap of $790.44 million, a price-to-earnings ratio of -1.44 and a beta of 1.02.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aberdeen Group plc acquired a new position in Jade Biosciences during the 4th quarter worth approximately $13,382,000. Two Sigma Investments LP bought a new stake in shares of Jade Biosciences in the third quarter worth $212,000. BNP Paribas Financial Markets boosted its holdings in Jade Biosciences by 363.4% during the third quarter. BNP Paribas Financial Markets now owns 14,931 shares of the company’s stock worth $129,000 after purchasing an additional 11,709 shares during the last quarter. Russell Investments Group Ltd. grew its position in Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock valued at $38,000 after purchasing an additional 1,279 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Jade Biosciences by 4,180.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after buying an additional 5,100 shares during the last quarter.

Jade Biosciences Company Profile

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.