Jade Biosciences (NASDAQ:JBIO) Shares Up 10% – Still a Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s share price was up 10% during trading on Tuesday . The company traded as high as $20.40 and last traded at $21.07. Approximately 165,875 shares were traded during mid-day trading, a decline of 76% from the average session volume of 702,496 shares. The stock had previously closed at $19.15.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wedbush raised their price target on Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Piper Sandler set a $55.00 price objective on shares of Jade Biosciences in a report on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a research report on Monday, June 1st. BTIG Research lifted their target price on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Wall Street Zen downgraded shares of Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.57.

Jade Biosciences Price Performance

The business has a fifty day moving average price of $19.64 and a two-hundred day moving average price of $18.32. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.40 and a beta of 1.43.

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

Institutional Trading of Jade Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in shares of Jade Biosciences in the 1st quarter valued at $43,557,000. RA Capital Management L.P. boosted its holdings in Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after purchasing an additional 2,608,757 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences in the fourth quarter valued at $25,323,000. Remedium Capital Partners LLC acquired a new stake in Jade Biosciences during the 4th quarter worth about $24,345,000. Finally, Aberdeen Group plc purchased a new position in shares of Jade Biosciences during the 4th quarter valued at about $13,382,000.

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.