Jade Biosciences’ (JBIO) “Buy” Rating Reiterated at BTIG Research

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports. They presently have a $77.00 price target on the stock. BTIG Research‘s price target indicates a potential upside of 431.03% from the stock’s current price.

A number of other research firms also recently weighed in on JBIO. Wedbush reaffirmed an “outperform” rating and set a $47.00 price target on shares of Jade Biosciences in a research report on Thursday, October 1st. Jefferies Financial Group reissued a “buy” rating and set a $48.00 price target on shares of Jade Biosciences in a research report on Tuesday, August 11th. Wall Street Zen cut Jade Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Jade Biosciences in a report on Friday, September 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Jade Biosciences in a research report on Thursday, October 1st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Jade Biosciences Trading Down 0.6%

Shares of NASDAQ:JBIO opened at $14.50 on Tuesday. The business has a 50-day moving average price of $17.36 and a two-hundred day moving average price of $18.11. The stock has a market capitalization of $922.20 million, a P/E ratio of -7.55 and a beta of 1.64. Jade Biosciences has a 1-year low of $8.36 and a 1-year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.10). As a group, equities analysts predict that Jade Biosciences will post -2.89 EPS for the current year.

Institutional Trading of Jade Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of JBIO. Janus Henderson Group PLC bought a new position in Jade Biosciences in the 1st quarter worth about $43,557,000. Stempoint Capital LP purchased a new stake in shares of Jade Biosciences during the first quarter valued at approximately $2,164,000. Bank of New York Mellon Corp purchased a new stake in Jade Biosciences in the 2nd quarter worth approximately $1,896,000. Renaissance Technologies LLC grew its position in shares of Jade Biosciences by 94.0% in the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after buying an additional 65,438 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new stake in Jade Biosciences in the second quarter worth $1,367,000.

Jade Biosciences Company Profile

Jade Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for autoimmune and other immune-mediated diseases. The company is building a pipeline of antibody-based therapies designed to modulate the immune system and address significant unmet medical needs.

Jade’s development programs include JDB001, an investigational therapeutic being advanced for potential use in immune-mediated conditions. The company’s product candidates remain in clinical development and have not been approved for commercial use.

Jade Biosciences is headquartered in the United States and conducts its research and development activities through a biotechnology-focused operating model.