Jade Biosciences (NASDAQ:JBIO) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Jade Biosciences (NASDAQ:JBIO) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts have also weighed in on the stock. UBS Group initiated coverage on shares of Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 price objective on the stock. BTIG Research upped their price target 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 price target on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Weiss Ratings lowered shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Finally, Wedbush boosted their price objective on shares of Jade Biosciences from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Stock Performance

Shares of JBIO opened at $17.89 on Friday. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.32 and a beta of 1.45. The company’s 50 day simple moving average is $21.08 and its 200 day simple moving average is $19.55. Jade Biosciences has a 1 year low of $6.91 and a 1 year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last released its earnings results on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Equities analysts expect that Jade Biosciences will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Several institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 shares during the period. Legal & General Group Plc acquired a new position in Jade Biosciences during the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. acquired a new position in Jade Biosciences during the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets purchased a new position in Jade Biosciences in the 2nd quarter worth approximately $32,000. Finally, Group One Trading LLC boosted its holdings in Jade Biosciences by 122.9% in the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after acquiring an additional 22,527 shares during the period.

Jade Biosciences Company Profile

Jade Biosciences, Inc (NASDAQ: JBIO) is a clinical-stage biotechnology company focused on developing medicines for autoimmune and inflammatory diseases. The company uses antibody-based drug discovery and development approaches to pursue therapies intended to address significant unmet medical needs.

Jade Biosciences is advancing a pipeline of investigational programs and does not currently have commercially marketed products. Its work is centered on identifying and developing targeted therapies that may modulate biological pathways involved in autoimmune disease.

The company’s activities primarily consist of research, preclinical development and clinical evaluation of its drug candidates.