Jade Biosciences (NASDAQ:JBIO) Stock Price Down 5.6% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price traded down 5.6% during trading on Monday . The company traded as low as $15.85 and last traded at $15.9950. 190,183 shares changed hands during trading, a decline of 65% from the average session volume of 538,402 shares. The stock had previously closed at $16.94.

Analysts Set New Price Targets

A number of analysts recently weighed in on JBIO shares. Guggenheim reissued a “buy” rating and issued a $47.00 target price on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Wedbush lifted their price objective on Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Finally, Wall Street Zen downgraded Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.43.

Jade Biosciences Trading Up 1.6%

The stock has a market capitalization of $751.26 million, a P/E ratio of -7.53 and a beta of 1.44. The firm’s fifty day moving average is $20.92 and its 200-day moving average is $16.73.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Equities research analysts expect that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Jade Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in shares of Jade Biosciences during the second quarter worth $154,000. Legal & General Group Plc acquired a new position in Jade Biosciences during the 2nd quarter worth about $29,000. Rhumbline Advisers bought a new stake in Jade Biosciences during the 2nd quarter worth about $445,000. Russell Investments Group Ltd. acquired a new stake in Jade Biosciences in the 2nd quarter valued at about $31,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Jade Biosciences in the 2nd quarter valued at about $114,000.

About Jade Biosciences

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.