Jade Biosciences (NASDAQ:JBIO) Sees Unusually-High Trading Volume – Still a Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO) shares saw unusually-high trading volume on Wednesday . Approximately 376,730 shares were traded during trading, an increase of 13% from the previous session’s volume of 332,190 shares.The stock last traded at $14.4850 and had previously closed at $14.05.

Wall Street Analyst Weigh In

JBIO has been the topic of a number of analyst reports. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. BTIG Research lifted their price objective on Jade Biosciences from $28.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. Guggenheim increased their target price on shares of Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, Wedbush restated an “outperform” rating and set a $24.00 price target on shares of Jade Biosciences in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Jade Biosciences has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Jade Biosciences Stock Down 3.3%

The firm’s 50 day simple moving average is $14.59 and its two-hundred day simple moving average is $12.73. The stock has a market capitalization of $763.97 million, a P/E ratio of -3.36 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.34.

Institutional Investors Weigh In On Jade Biosciences

A number of hedge funds have recently added to or reduced their stakes in JBIO. Geode Capital Management LLC bought a new stake in shares of Jade Biosciences during the second quarter valued at approximately $6,759,000. JPMorgan Chase & Co. acquired a new stake in Jade Biosciences in the 2nd quarter valued at $154,000. Legal & General Group Plc acquired a new position in Jade Biosciences during the second quarter worth $29,000. Rhumbline Advisers bought a new position in shares of Jade Biosciences in the second quarter valued at $445,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Jade Biosciences during the second quarter valued at about $33,000.

About Jade Biosciences

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.