Jade Biosciences, Inc. (NASDAQ:JBIO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $20.80.

Several research firms have recently weighed in on JBIO. HC Wainwright assumed coverage on shares of Jade Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $25.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Guggenheim raised their price objective on Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 18th.

Hedge Funds Weigh In On Jade Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new stake in Jade Biosciences during the second quarter valued at about $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences during the 2nd quarter valued at about $31,000. BNP Paribas Financial Markets bought a new position in Jade Biosciences during the 2nd quarter worth approximately $32,000. Ameritas Investment Partners Inc. purchased a new position in Jade Biosciences in the 2nd quarter worth approximately $33,000. Finally, California State Teachers Retirement System lifted its position in Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 shares during the last quarter.

Jade Biosciences Trading Down 7.5%

JBIO stock opened at $13.90 on Wednesday. The company’s 50 day moving average is $15.21 and its 200 day moving average is $11.33. The stock has a market cap of $685.41 million, a price-to-earnings ratio of -1.25 and a beta of 1.02. Jade Biosciences has a 1-year low of $6.57 and a 1-year high of $100.10.

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.