Jade Biosciences (NASDAQ:JBIO) Posts Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Jade Biosciences (NASDAQ:JBIO) released its quarterly earnings results on Friday. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.34, FiscalAI reports.

Jade Biosciences Stock Up 1.2%

Shares of NASDAQ JBIO opened at $14.05 on Friday. The company has a market cap of $692.81 million, a P/E ratio of -3.05 and a beta of 1.03. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $100.10. The business has a 50-day simple moving average of $14.78 and a two-hundred day simple moving average of $11.92.

Wall Street Analyst Weigh In

JBIO has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a research report on Friday. HC Wainwright started coverage on Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 target price on the stock. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Investors Weigh In On Jade Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its stake in Jade Biosciences by 477.6% during the fourth quarter. Invesco Ltd. now owns 199,727 shares of the company’s stock valued at $3,082,000 after acquiring an additional 165,151 shares in the last quarter. Ikarian Capital LLC bought a new stake in Jade Biosciences during the 4th quarter worth approximately $4,629,000. Virtus Investment Advisers LLC purchased a new stake in Jade Biosciences in the 4th quarter worth approximately $274,000. Opaleye Management Inc. bought a new position in Jade Biosciences in the 4th quarter valued at $6,598,000. Finally, Millennium Management LLC bought a new position in Jade Biosciences in the 4th quarter valued at $969,000.

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.