Jade Biosciences (NASDAQ:JBIO) Stock Price Down 4.7% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO) fell 4.7% on Friday . The company traded as low as $18.28 and last traded at $18.2350. 550,875 shares were traded during mid-day trading, a decline of 24% from the average session volume of 724,332 shares. The stock had previously closed at $19.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BTIG Research boosted their price objective on Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 10th. Guggenheim reaffirmed a “buy” rating and issued a $47.00 target price on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Weiss Ratings lowered shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price objective on shares of Jade Biosciences in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Jade Biosciences Trading Down 6.4%

The firm’s fifty day simple moving average is $21.15 and its 200 day simple moving average is $19.56. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -9.33 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). As a group, sell-side analysts expect that Jade Biosciences, Inc. will post -2.84 EPS for the current year.

Institutional Trading of Jade Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new position in shares of Jade Biosciences during the first quarter worth about $43,557,000. RA Capital Management L.P. increased its position in Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after acquiring an additional 2,608,757 shares during the period. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the 4th quarter valued at approximately $25,323,000. Remedium Capital Partners LLC purchased a new stake in Jade Biosciences during the 4th quarter valued at approximately $24,345,000. Finally, California State Teachers Retirement System lifted its position in Jade Biosciences by 57,706.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,002,366 shares of the company’s stock worth $22,273,000 after acquiring an additional 1,000,632 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.