Jade Biosciences, Inc. (NASDAQ:JBIO) Stock Has Average Price Target of $51.75 According to Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $51.75.

JBIO has been the topic of several research analyst reports. Wall Street Zen cut Jade Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Jefferies Financial Group restated a “buy” rating and set a $48.00 price target on shares of Jade Biosciences in a report on Tuesday, August 11th. Guggenheim reaffirmed a “buy” rating and set a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, September 11th. Finally, BTIG Research increased their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 10th.

Jade Biosciences Stock Down 1.2%

Shares of Jade Biosciences stock opened at $14.18 on Friday. The stock has a market cap of $901.85 million, a PE ratio of -7.39 and a beta of 1.45. The business has a fifty day simple moving average of $19.81 and a 200-day simple moving average of $19.74. Jade Biosciences has a 12 month low of $8.16 and a 12 month high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Analysts expect that Jade Biosciences will post -2.89 EPS for the current fiscal year.

Institutional Trading of Jade Biosciences

A number of institutional investors have recently bought and sold shares of JBIO. Janus Henderson Group PLC acquired a new position in Jade Biosciences in the 1st quarter worth about $43,557,000. Baker BROS. Advisors LP acquired a new stake in shares of Jade Biosciences during the 4th quarter valued at about $25,323,000. Avidity Partners Management LP grew its stake in shares of Jade Biosciences by 24.3% in the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after buying an additional 273,522 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of Jade Biosciences in the 1st quarter valued at approximately $2,164,000. Finally, Bank of New York Mellon Corp acquired a new position in Jade Biosciences in the second quarter worth approximately $1,896,000.

Jade Biosciences Company Profile

Jade Biosciences, Inc (NASDAQ: JBIO) is a clinical-stage biotechnology company focused on developing medicines for autoimmune and inflammatory diseases. The company uses antibody-based drug discovery and development approaches to pursue therapies intended to address significant unmet medical needs.

Jade Biosciences is advancing a pipeline of investigational programs and does not currently have commercially marketed products. Its work is centered on identifying and developing targeted therapies that may modulate biological pathways involved in autoimmune disease.

The company’s activities primarily consist of research, preclinical development and clinical evaluation of its drug candidates.