Jade Biosciences (NASDAQ:JBIO) Sees Large Volume Increase – Here’s What Happened

by · The Cerbat Gem

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO – Get Free Report) saw strong trading volume on Friday . 233,688 shares were traded during trading, an increase of 43% from the previous session’s volume of 163,649 shares.The stock last traded at $12.73 and had previously closed at $12.40.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JBIO. Wedbush lifted their price target on Jade Biosciences from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, August 14th. BTIG Research began coverage on Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 price objective on the stock. Guggenheim boosted their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday. Finally, Wall Street Zen upgraded shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Jade Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

View Our Latest Research Report on Jade Biosciences

Jade Biosciences Stock Performance

The stock has a 50-day simple moving average of $10.22. The stock has a market cap of $625.65 million, a price-to-earnings ratio of -1.22 and a beta of 1.04.

Jade Biosciences (NASDAQ:JBIO – Get Free Report) last posted its earnings results on Friday, November 14th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.09.

Hedge Funds Weigh In On Jade Biosciences

Hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. acquired a new stake in Jade Biosciences in the second quarter valued at $17,703,000. Versant Venture Management LLC bought a new stake in shares of Jade Biosciences in the 2nd quarter valued at about $15,243,000. Soleus Capital Management L.P. acquired a new stake in shares of Jade Biosciences in the second quarter valued at about $7,959,000. Geode Capital Management LLC bought a new position in shares of Jade Biosciences during the second quarter worth about $6,759,000. Finally, Orbimed Advisors LLC bought a new position in shares of Jade Biosciences during the second quarter worth about $5,306,000.

Jade Biosciences Company Profile

(Get Free Report)

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.

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