Jade Biosciences (NASDAQ:JBIO) Stock Price Up 8.1% – Should You Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s share price was up 8.1% on Tuesday . The stock traded as high as $16.44 and last traded at $16.41. Approximately 29,173 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 287,699 shares. The stock had previously closed at $15.18.

Analyst Ratings Changes

A number of research analysts have commented on JBIO shares. Guggenheim upped their price target on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. BTIG Research assumed coverage on Jade Biosciences in a research note on Thursday, October 9th. They set a “buy” rating and a $28.00 target price on the stock. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Finally, HC Wainwright initiated coverage on shares of Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Jade Biosciences currently has an average rating of “Moderate Buy” and an average price target of $20.80.

Jade Biosciences Price Performance

The company has a market cap of $758.39 million, a PE ratio of -1.38 and a beta of 1.02. The business’s 50 day moving average is $14.52 and its 200-day moving average is $10.66.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.09.

Institutional Trading of Jade Biosciences

A number of institutional investors have recently bought and sold shares of JBIO. Legal & General Group Plc purchased a new position in shares of Jade Biosciences in the 2nd quarter valued at about $29,000. Russell Investments Group Ltd. acquired a new position in Jade Biosciences in the second quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new position in Jade Biosciences in the second quarter valued at approximately $32,000. Ameritas Investment Partners Inc. acquired a new stake in Jade Biosciences during the second quarter worth approximately $33,000. Finally, New York State Common Retirement Fund raised its holdings in Jade Biosciences by 4,180.3% during the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after purchasing an additional 5,100 shares in the last quarter.

Jade Biosciences Company Profile

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.