Jade Biosciences (NASDAQ:JBIO) Stock Keeps “Buy” Rating at HC Wainwright

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $55.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 289.52% from the company’s current price.

JBIO has been the subject of a number of other reports. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of Jade Biosciences in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Jade Biosciences in a report on Friday, September 11th. BTIG Research raised their price target on Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen lowered Jade Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, September 12th. Finally, UBS Group initiated 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. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Jade Biosciences Stock Performance

NASDAQ:JBIO traded up $0.35 during trading hours on Thursday, reaching $14.12. The stock had a trading volume of 1,109,790 shares, compared to its average volume of 753,908. The stock has a 50 day simple moving average of $19.58 and a 200 day simple moving average of $19.74. Jade Biosciences has a 12-month low of $8.20 and a 12-month high of $28.00. The stock has a market cap of $898.03 million, a P/E ratio of -7.35 and a beta of 1.64.

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

Institutional Investors Weigh In On Jade Biosciences

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in Jade Biosciences during the first quarter valued at $43,557,000. Renaissance Technologies LLC boosted its stake in Jade Biosciences by 94.0% during the first quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock valued at $1,897,000 after buying an additional 65,438 shares during the period. Stempoint Capital LP bought a new stake in Jade Biosciences during the first quarter worth about $2,164,000. Bank of New York Mellon Corp bought a new stake in Jade Biosciences during the second quarter worth about $1,896,000. Finally, Baker BROS. Advisors LP bought a new stake in Jade Biosciences during the fourth quarter worth about $25,323,000.

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.