Wellington Management Group LLP Lowers Position in Jade Biosciences, Inc. $JBIO

Wellington Management Group LLP reduced its stake in Jade Biosciences, Inc. (NASDAQ:JBIO) by 30.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 90,396 shares of the company’s stock after selling 38,770 shares during the quarter. Wellington Management Group LLP owned approximately 0.14% of Jade Biosciences worth $2,009,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. RA Capital Management L.P. grew its stake in shares of Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after acquiring an additional 2,608,757 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Jade Biosciences during the first quarter valued at about $43,557,000. Baker BROS. Advisors LP bought a new position in shares of Jade Biosciences during the fourth quarter valued at about $25,323,000. Remedium Capital Partners LLC purchased a new position in Jade Biosciences during the fourth quarter worth about $24,345,000. Finally, Avidity Partners Management LP boosted its holdings in Jade Biosciences by 24.3% during the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after purchasing an additional 273,522 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on JBIO. BTIG Research upped their price objective on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Weiss Ratings downgraded Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 target price on shares of Jade Biosciences in a report on Tuesday, August 11th. Finally, HC Wainwright increased their price target on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Two investment 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 issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Jade Biosciences Trading Up 0.4%

NASDAQ:JBIO opened at $19.14 on Friday. The stock has a market capitalization of $1.22 billion, a PE ratio of -9.97 and a beta of 1.45. The firm’s 50 day moving average is $21.15 and its 200 day moving average is $19.56. Jade Biosciences, Inc. has a 12 month low of $6.91 and a 12 month high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Research analysts predict that Jade Biosciences, Inc. will post -2.84 earnings per share for the current year.

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.