Jade Biosciences (NASDAQ:JBIO) Shares Gap Down – Time to Sell?
by Doug Wharley · The Cerbat GemShares of Jade Biosciences, Inc. (NASDAQ:JBIO – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $14.16, but opened at $13.74. Jade Biosciences shares last traded at $13.18, with a volume of 58,304 shares trading hands.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on JBIO shares. Guggenheim upped their price target on shares of Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. BTIG Research assumed coverage on shares of Jade Biosciences in a research note on Thursday, October 9th. They issued a “buy” rating and a $28.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.75.
Get Our Latest Research Report on Jade Biosciences
Jade Biosciences Price Performance
The stock’s 50-day moving average is $12.81 and its two-hundred day moving average is $10.07. The company has a market cap of $660.26 million, a P/E ratio of -1.20 and a beta of 1.02.
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, topping analysts’ consensus estimates of ($0.57) by $0.09.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after buying an additional 1,279 shares during the last quarter. Legal & General Group Plc bought a new position in Jade Biosciences in the second quarter worth approximately $29,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences during the 2nd quarter valued at $32,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Jade Biosciences in the 2nd quarter worth $33,000. Finally, New York State Common Retirement Fund raised its holdings in Jade Biosciences by 4,180.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after purchasing an additional 5,100 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.