Wellington Management Group LLP Sells 38,770 Shares of Jade Biosciences, Inc. $JBIO

Wellington Management Group LLP decreased its holdings in Jade Biosciences, Inc. (NASDAQ:JBIO) by 30.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 90,396 shares of the company’s stock after selling 38,770 shares during the period. Wellington Management Group LLP’s holdings in Jade Biosciences were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of JBIO. Janus Henderson Group PLC bought a new position in Jade Biosciences in the 1st quarter worth approximately $43,557,000. RA Capital Management L.P. grew its stake 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 buying an additional 2,608,757 shares in the last quarter. Baker BROS. Advisors LP bought a new stake in Jade Biosciences during the 4th quarter valued at $25,323,000. Remedium Capital Partners LLC bought a new stake in Jade Biosciences during the 4th quarter valued at $24,345,000. Finally, Marshall Wace LLP lifted its position in shares of Jade Biosciences by 2,198.5% during the fourth quarter. Marshall Wace LLP now owns 875,273 shares of the company’s stock worth $13,505,000 after acquiring an additional 837,193 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JBIO shares. UBS Group started coverage on Jade Biosciences in a report on Monday, June 15th. They issued a “buy” rating and a $45.00 price target for the company. HC Wainwright boosted their price objective on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Weiss Ratings cut Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 target price on shares of Jade Biosciences in a research note on Tuesday, August 11th. Finally, Guggenheim reaffirmed a “buy” rating and set a $47.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. Two research 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 given a Sell rating to the company’s stock. According to MarketBeat, Jade Biosciences has an average rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $19.14 on Friday. The firm has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $19.56. Jade Biosciences, Inc. has a one year low of $6.91 and a one year high of $28.00. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -9.97 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). Equities research analysts expect that Jade Biosciences, Inc. will post -2.84 EPS for the current fiscal year.

Jade Biosciences 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.