Y Intercept Hong Kong Ltd Buys New Shares in Jade Biosciences, Inc. $JBIO

Y Intercept Hong Kong Ltd purchased a new stake in Jade Biosciences, Inc. (NASDAQ:JBIO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,131 shares of the company’s stock, valued at approximately $353,000. Y Intercept Hong Kong Ltd owned 0.05% of Jade Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of JBIO. RA Capital Management L.P. increased its holdings in shares of Jade Biosciences by 245.6% during the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after purchasing an additional 2,608,757 shares during the period. Baker BROS. Advisors LP bought a new stake in shares of Jade Biosciences in the fourth quarter valued at about $25,323,000. Remedium Capital Partners LLC bought a new stake in shares of Jade Biosciences in the fourth quarter valued at about $24,345,000. Avidity Partners Management LP lifted its stake in shares of Jade Biosciences by 24.3% in the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after buying an additional 273,522 shares during the period. Finally, Marshall Wace LLP grew its position in Jade Biosciences by 2,198.5% during the fourth quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock worth $13,505,000 after buying an additional 837,193 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on JBIO. Guggenheim restated a “buy” rating and set a $47.00 price target on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Piper Sandler set a $55.00 price objective on Jade Biosciences in a report on Tuesday, June 2nd. Weiss Ratings cut Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, UBS Group assumed coverage on Jade Biosciences in a research note on Monday, June 15th. They issued a “buy” rating and a $45.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Jade Biosciences has an average rating of “Moderate Buy” and an average target price of $51.57.

Jade Biosciences Stock Performance

Shares of NASDAQ:JBIO opened at $21.34 on Wednesday. Jade Biosciences, Inc. has a 52 week low of $6.67 and a 52 week high of $28.00. The company’s fifty day moving average is $20.68 and its 200-day moving average is $17.78. The company has a market capitalization of $1.05 billion, a PE ratio of -10.56 and a beta of 1.43.

Jade Biosciences (NASDAQ:JBIO) last posted its earnings results 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). On average, analysts forecast that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

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.