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

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price traded down 5.2% during mid-day trading on Tuesday . The stock traded as low as $15.50 and last traded at $15.2650. 44,380 shares changed hands 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. William Blair raised shares of Jade Biosciences to a “strong-buy” rating in a research report on Monday, March 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a research report on Monday, June 1st. Weiss Ratings raised shares of Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. Wedbush increased their price objective on shares of Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Piper Sandler set a $55.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $47.13.

Jade Biosciences Trading Down 2.8%

The stock has a 50-day simple moving average of $21.00 and a 200-day simple moving average of $16.83. The company has a market capitalization of $772.48 million, a price-to-earnings ratio of -7.76 and a beta of 1.45.

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 analysts’ consensus estimates of ($0.52) by ($0.05). On average, research analysts forecast that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Institutional Trading of Jade Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its position 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 acquiring an additional 819 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $32,000. Finally, Group One Trading LLC grew its position in shares of Jade Biosciences by 122.9% in the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after acquiring an additional 22,527 shares in the last quarter.

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.