Zacks Research Downgrades Jade Biosciences (NASDAQ:JBIO) to Strong Sell

Jade Biosciences (NASDAQ:JBIO) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on JBIO. Wedbush reissued an “outperform” rating and issued a $24.00 price objective on shares of Jade Biosciences in a research note on Monday. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. William Blair raised shares of Jade Biosciences to a “strong-buy” rating in a research report on Monday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Jade Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Jade Biosciences Price Performance

NASDAQ JBIO opened at $14.02 on Tuesday. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The stock’s 50-day moving average is $14.70 and its two-hundred day moving average is $12.06. The firm has a market cap of $691.47 million, a P/E ratio of -3.04 and a beta of 1.03.

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

Institutional Trading of Jade Biosciences

Hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. grew its holdings in Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after buying an additional 2,608,757 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Jade Biosciences during the second quarter worth approximately $17,703,000. Baker BROS. Advisors LP bought a new stake in shares of Jade Biosciences in the fourth quarter valued at approximately $25,323,000. Remedium Capital Partners LLC bought a new stake in shares of Jade Biosciences in the fourth quarter valued at approximately $24,345,000. Finally, Versant Venture Management LLC acquired a new stake in shares of Jade Biosciences in the second quarter worth $15,243,000.

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.