Jade Biosciences (NASDAQ:JBIO) Releases Earnings Results

Jade Biosciences (NASDAQ:JBIO) announced its quarterly earnings data on Friday. The company reported ($0.11) earnings per share for the quarter, FiscalAI reports.

Jade Biosciences Stock Performance

JBIO traded up $0.17 on Friday, reaching $14.05. The company had a trading volume of 299,140 shares, compared to its average volume of 260,091. The stock has a market cap of $692.81 million, a P/E ratio of -1.26 and a beta of 1.03. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The company’s fifty day moving average is $14.83 and its 200 day moving average is $11.84.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JBIO. HC Wainwright began coverage on shares of Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 target price for the company. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a research report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Guggenheim upped their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Jade Biosciences presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Hedge Funds Weigh In On Jade Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in JBIO. Geode Capital Management LLC bought a new stake in shares of Jade Biosciences in the second quarter valued at approximately $6,759,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Jade Biosciences in the second quarter valued at about $71,000. Intech Investment Management LLC bought a new position in Jade Biosciences in the second quarter valued at about $230,000. Versant Venture Management LLC acquired a new position in Jade Biosciences during the second quarter worth about $15,243,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Jade Biosciences in the second quarter worth about $154,000.

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.