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

Jade Biosciences, Inc. (NASDAQ:JBIO) was down 5.9% during mid-day trading on Thursday . The company traded as low as $20.84 and last traded at $20.5210. 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 Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. William Blair upgraded Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. UBS Group began coverage on Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. Finally, Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jade Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $47.12.

Jade Biosciences Stock Performance

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

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

Institutional Investors Weigh In On Jade Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in shares of Jade Biosciences by 40.3% during the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after buying an additional 819 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new stake in shares of Jade Biosciences during the second quarter valued at approximately $32,000. Finally, Group One Trading LLC increased its position in shares of Jade Biosciences by 122.9% during the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after acquiring an additional 22,527 shares during 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.