Jade Biosciences (NASDAQ:JBIO) Sees Large Volume Increase – Should You Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO) shares saw an uptick in trading volume on Friday . 233,688 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

JBIO has been the topic of a number of analyst reports. 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 price objective on the stock. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Guggenheim lifted their price objective on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday. Finally, Wedbush raised their target price on Jade Biosciences from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.75.

Jade Biosciences Price Performance

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

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Friday, November 14th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of Jade Biosciences during the second quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new position in Jade Biosciences during the 2nd quarter worth $31,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences in the 2nd quarter worth $32,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Jade Biosciences in the second quarter valued at about $33,000. Finally, New York State Common Retirement Fund lifted its position in shares of Jade Biosciences by 4,180.3% during the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after purchasing an additional 5,100 shares in the last quarter.

Jade Biosciences Company Profile

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.