Jade Biosciences (NASDAQ:JBIO) Reaches New 1-Year High – Still a Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO) reached a new 52-week high during trading on Tuesday . The stock traded as high as $28.23 and last traded at $26.5650, with a volume of 1856 shares changing hands. The stock had previously closed at $26.85.

Wall Street Analyst Weigh In

JBIO has been the subject of several recent research reports. Guggenheim increased their price objective on shares of Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. BTIG Research raised their price target on shares of Jade Biosciences from $28.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Wedbush reissued an “outperform” rating and set a $24.00 price target on shares of Jade Biosciences in a research report on Monday, March 9th. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

Jade Biosciences Stock Down 15.6%

The company has a 50 day moving average of $16.78 and a 200-day moving average of $14.46. The stock has a market capitalization of $1.10 billion, a P/E ratio of -4.84 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.34. Equities analysts forecast that Jade Biosciences, Inc. will post -2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its stake in Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after buying an additional 819 shares during the last quarter. Russell Investments Group Ltd. lifted its stake 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 buying an additional 1,279 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Jade Biosciences by 16.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock valued at $187,000 after buying an additional 1,709 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Jade Biosciences by 26.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock valued at $216,000 after buying an additional 2,940 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Jade Biosciences in the second quarter valued at $29,000.

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.