Jade Biosciences (NASDAQ:JBIO) Posts Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Jade Biosciences (NASDAQ:JBIO) posted its earnings results on Friday. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.31, FiscalAI reports.

Jade Biosciences Stock Performance

Shares of JBIO stock traded up $0.27 during trading on Friday, hitting $16.14. The company had a trading volume of 593,498 shares, compared to its average volume of 771,811. The firm has a market capitalization of $1.03 billion, a P/E ratio of -8.41 and a beta of 1.81. Jade Biosciences has a one year low of $9.60 and a one year high of $28.00. The stock’s 50-day moving average price is $15.40 and its 200 day moving average price is $18.14.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JBIO. Weiss Ratings restated a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, September 11th. Wall Street Zen cut Jade Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 12th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of Jade Biosciences in a research report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Jade Biosciences in a report on Thursday, October 1st. Finally, BTIG Research reissued a “buy” rating and issued a $77.00 target price on shares of Jade Biosciences in a research report on Tuesday, October 27th. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Jade Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Institutional Trading of Jade Biosciences

A number of institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new stake in Jade Biosciences during the first quarter worth about $43,557,000. Pictet Asset Management Holding SA increased its holdings in Jade Biosciences by 64.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,205,972 shares of the company’s stock valued at $16,944,000 after buying an additional 472,204 shares during the period. Russell Investments Group Ltd. increased its holdings in Jade Biosciences by 10.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 179,432 shares of the company’s stock valued at $2,521,000 after buying an additional 16,348 shares during the period. Stempoint Capital LP acquired a new position in shares of Jade Biosciences in the 1st quarter valued at approximately $2,164,000. Finally, Renaissance Technologies LLC raised 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 valued at $1,897,000 after buying an additional 65,438 shares in the last quarter.

Jade Biosciences Company Profile

Jade Biosciences is a biotechnology company developing antibody-based treatments for autoimmune diseases. Its research focuses on targets involved in immune activity that can contribute to chronic disease. The company’s lead program, JADE101, is an antibody designed to block APRIL, a protein involved in the production of antibodies. Jade is developing the candidate for IgA nephropathy, a kidney disease in which abnormal IgA antibodies can damage the kidneys. Jade’s pipeline is focused on potential therapies for autoimmune conditions.