Jade Biosciences (NASDAQ:JBIO) Trading Down 5.9% – Here’s Why

Jade Biosciences, Inc. (NASDAQ:JBIO) fell 5.9% on Thursday . The company traded as low as $20.84 and last traded at $20.5210. Approximately 151,865 shares were traded during trading, a decline of 77% from the average session volume of 668,214 shares. The stock had previously closed at $21.81.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Guggenheim restated a “buy” rating and issued a $47.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. UBS Group began coverage on Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 price objective for the company. BTIG Research boosted their price objective on Jade Biosciences from $39.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, June 1st. William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research report on Monday, March 9th. Finally, Zacks Research raised Jade Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.12.

Jade Biosciences Trading Down 6.3%

The stock’s 50-day moving average price is $21.25 and its 200-day moving average price is $17.43. The company has a market cap of $1.01 billion, a P/E ratio of -10.16 and a beta of 1.43.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, research analysts anticipate that Jade Biosciences, Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in shares of Jade Biosciences during the first quarter worth approximately $43,557,000. RA Capital Management L.P. grew its position in Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after purchasing an additional 2,608,757 shares during the period. Baker BROS. Advisors LP bought a new stake in Jade Biosciences during the 4th quarter valued at $25,323,000. Remedium Capital Partners LLC bought a new stake in Jade Biosciences during the 4th quarter valued at $24,345,000. Finally, Aberdeen Group plc acquired a new position in Jade Biosciences during the fourth quarter worth $13,382,000.

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.