Jade Biosciences (NASDAQ:JBIO) Posts Quarterly Earnings Results

Jade Biosciences (NASDAQ:JBIO) released its quarterly earnings data on Monday. The company reported ($0.76) EPS for the quarter, FiscalAI reports.

Jade Biosciences Stock Performance

Shares of JBIO stock opened at $21.96 on Monday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.87 and a beta of 1.49. The firm has a 50-day moving average price of $19.69 and a 200 day moving average price of $18.52. Jade Biosciences has a twelve month low of $6.67 and a twelve month high of $28.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. 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 report on Monday, June 1st. Wall Street Zen lowered shares of Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Guggenheim restated a “buy” rating and set a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. HC Wainwright lifted their price objective on Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Weiss Ratings lowered Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Institutional Investors Weigh In On Jade Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after acquiring an additional 819 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Jade Biosciences by 3.6% during the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after purchasing an additional 1,059 shares during the period. Bank of America Corp DE lifted its stake in shares of Jade Biosciences by 2.9% during the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after purchasing an additional 1,086 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Jade Biosciences by 40.7% during the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Jade Biosciences by 16.5% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock worth $187,000 after purchasing an additional 1,709 shares during the last quarter.

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.