Jade Biosciences (NASDAQ:JBIO) Trading Down 5.2% – What’s Next?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) traded down 5.2% on Tuesday . The company traded as low as $15.50 and last traded at $15.2650. 44,380 shares were traded during mid-day trading, a decline of 92% from the average session volume of 575,697 shares. The stock had previously closed at $16.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $47.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. Wedbush raised their target price on Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. BTIG Research raised their target price on Jade Biosciences from $39.00 to $74.00 and gave the company a “buy” rating in a report on Monday, June 1st. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Jade Biosciences in a 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 assigned a Sell rating to the stock. According to MarketBeat, Jade Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.13.

Jade Biosciences Trading Up 8.6%

The firm has a market capitalization of $832.70 million, a P/E ratio of -8.35 and a beta of 1.44. The company has a 50-day moving average of $21.01 and a 200-day moving average of $16.88.

Jade Biosciences (NASDAQ:JBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Research analysts predict that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Institutional Inflows and Outflows

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

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.