Jade Biosciences’ (JBIO) Buy Rating Reiterated at HC Wainwright

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $55.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 309.17% from the company’s previous close.

A number of other equities research analysts have also commented on JBIO. Wedbush reiterated an “outperform” rating and issued a $47.00 target price on shares of Jade Biosciences in a research report on Thursday, October 1st. BTIG Research upped their price target on shares of Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 10th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Jade Biosciences in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Jade Biosciences in a research report on Friday, September 11th. Finally, Wall Street Zen lowered shares of Jade Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Jade Biosciences Stock Performance

Shares of Jade Biosciences stock traded down $0.63 on Thursday, hitting $13.44. 43,207 shares of the company’s stock were exchanged, compared to its average volume of 749,211. The company has a 50-day simple moving average of $19.34 and a 200-day simple moving average of $19.74. The stock has a market capitalization of $854.91 million, a PE ratio of -7.09 and a beta of 1.64. Jade Biosciences has a 1 year low of $8.36 and a 1 year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted 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). On average, analysts expect that Jade Biosciences will post -2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Several large investors have recently bought and sold shares of JBIO. Janus Henderson Group PLC purchased a new position in Jade Biosciences in the first quarter valued at approximately $43,557,000. Renaissance Technologies LLC grew its holdings in shares of Jade Biosciences by 94.0% during the first quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after purchasing an additional 65,438 shares during the last quarter. Stempoint Capital LP purchased a new position in shares of Jade Biosciences during the first quarter worth about $2,164,000. Maven Securities LTD purchased a new position in shares of Jade Biosciences during the second quarter worth approximately $1,111,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Jade Biosciences during the second quarter worth approximately $1,896,000.

About Jade Biosciences

Jade Biosciences, Inc is a clinical-stage biotechnology company focused on developing therapies for autoimmune and inflammatory diseases. The company’s research and development efforts are directed toward antibody-based medicines designed to address significant unmet needs in immune-mediated conditions.

Jade’s pipeline includes investigational therapeutic programs intended to modulate biological pathways involved in inflammation and immune-system activity. As a development-stage company, its products remain subject to clinical testing and regulatory review, and there is no assurance that any candidate will receive approval or reach the commercial market.

The company is headquartered in the United States and is developing its portfolio for potential use in global markets.