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

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Thursday, Marketbeat reports. They currently have a $55.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 289.52% from the stock’s previous close.

Other analysts also recently issued reports about the stock. UBS Group assumed coverage on shares of Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 price objective for the company. Wedbush restated an “outperform” rating and set a $47.00 price target on shares of Jade Biosciences in a report on Thursday. Wall Street Zen lowered Jade Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Jade Biosciences in a research report on Friday, September 11th. Finally, BTIG Research raised their target price on Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Jade Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Jade Biosciences Stock Performance

Shares of NASDAQ JBIO traded up $0.35 during mid-day trading on Thursday, reaching $14.12. 1,109,790 shares of the company traded hands, compared to its average volume of 753,908. The stock has a market cap of $898.03 million, a PE ratio of -7.35 and a beta of 1.64. The company’s fifty day moving average is $19.58 and its two-hundred day moving average is $19.74. Jade Biosciences has a fifty-two week low of $8.20 and a fifty-two week high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its 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). Research analysts forecast that Jade Biosciences will post -2.89 earnings per share for the current year.

Institutional Investors Weigh In On Jade Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in Jade Biosciences in the second quarter worth $503,000. Maven Securities LTD acquired a new position in shares of Jade Biosciences in the 2nd quarter valued at $1,111,000. Squarepoint Ops LLC lifted its holdings in shares of Jade Biosciences by 22.0% during the 2nd quarter. Squarepoint Ops LLC now owns 54,456 shares of the company’s stock worth $1,210,000 after acquiring an additional 9,806 shares during the period. Corient Private Wealth LP acquired a new stake in shares of Jade Biosciences during the 2nd quarter valued at about $1,367,000. Finally, Bank of New York Mellon Corp bought a new stake in Jade Biosciences in the second quarter valued at about $1,896,000.

Jade Biosciences Company Profile

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.