Jade Biosciences (NASDAQ:JBIO) Shares Gap Up After Analyst Upgrade

Jade Biosciences, Inc. (NASDAQ:JBIO) shares gapped up prior to trading on Monday after BTIG Research raised their price target on the stock from $28.00 to $39.00. The stock had previously closed at $13.92, but opened at $14.79. BTIG Research currently has a buy rating on the stock. Jade Biosciences shares last traded at $14.30, with a volume of 52,432 shares changing hands.

Several other analysts also recently commented on JBIO. William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a research report on Monday, March 9th. HC Wainwright assumed 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 on the stock. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a report on Friday, March 6th. Wedbush reiterated an “outperform” rating and set a $24.00 target price on shares of Jade Biosciences in a research note on Monday, March 9th. Finally, Guggenheim boosted their price target on Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Jade Biosciences presently has an average rating of “Moderate Buy” and an average target price of $27.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. lifted its position in Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after purchasing an additional 2,608,757 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in Jade Biosciences during the 2nd quarter worth approximately $17,703,000. Baker BROS. Advisors LP purchased a new position in shares of Jade Biosciences during the 4th quarter worth approximately $25,323,000. Remedium Capital Partners LLC acquired a new stake in shares of Jade Biosciences in the 4th quarter valued at approximately $24,345,000. Finally, Versant Venture Management LLC acquired a new stake in shares of Jade Biosciences in the 2nd quarter valued at approximately $15,243,000.

Jade Biosciences Price Performance

The stock has a 50 day moving average of $14.66 and a two-hundred day moving average of $12.17. The stock has a market capitalization of $704.29 million, a PE ratio of -3.10 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.34.

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.