Jade Biosciences (NASDAQ:JBIO) Stock Rating Lowered by Wall Street Zen

Jade Biosciences (NASDAQ:JBIO) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on the company. Piper Sandler set a $55.00 price objective on Jade Biosciences in a research report on Tuesday, June 2nd. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. BTIG Research increased their target price on Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wedbush lifted their price target on Jade Biosciences from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, HC Wainwright upped their price objective on Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Two research 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 issued a Sell rating to the company. According to data from MarketBeat, Jade Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Jade Biosciences Price Performance

NASDAQ:JBIO opened at $17.89 on Friday. Jade Biosciences has a 12-month low of $6.91 and a 12-month high of $28.00. The firm has a market capitalization of $1.14 billion, a PE ratio of -9.32 and a beta of 1.45. The firm has a 50-day moving average price of $21.08 and a 200 day moving average price of $19.59.

Jade Biosciences (NASDAQ:JBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). On average, research analysts expect that Jade Biosciences will post -2.84 EPS for the current year.

Institutional Trading of Jade Biosciences

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of Jade Biosciences by 40.3% during the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after acquiring an additional 819 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Jade Biosciences by 3.6% during the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after purchasing an additional 1,059 shares in the last quarter. Bank of America Corp DE grew its stake in Jade Biosciences by 2.9% during the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after buying an additional 1,086 shares in the last quarter. Russell Investments Group Ltd. raised its position in Jade Biosciences by 40.7% during the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock valued at $38,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Jade Biosciences by 16.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock worth $187,000 after buying an additional 1,709 shares during the last quarter.

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.