Jade Biosciences (NASDAQ:JBIO) Sees Large Volume Increase Following Analyst Upgrade

Jade Biosciences, Inc. (NASDAQ:JBIO) shares saw an uptick in trading volume on Monday after HC Wainwright raised their price target on the stock from $45.00 to $55.00. HC Wainwright currently has a buy rating on the stock. 374,719 shares traded hands during trading, a decline of 19% from the previous session’s volume of 463,605 shares.The stock last traded at $17.6480 and had previously closed at $21.04.

A number of other equities analysts have also issued reports on JBIO. BTIG Research reissued a “buy” rating and set a $39.00 price target on shares of Jade Biosciences in a report on Wednesday, May 27th. Weiss Ratings lowered Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. William Blair raised Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Finally, Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Jade Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Institutional Investors Weigh In On Jade Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in Jade Biosciences in the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences in the 2nd quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new stake in Jade Biosciences in the 2nd quarter valued at approximately $32,000. California State Teachers Retirement System boosted its holdings in Jade Biosciences by 40.3% in the 4th 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 in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Jade Biosciences by 4,180.3% in the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after purchasing an additional 5,100 shares in the last quarter.

Jade Biosciences Trading Down 13.0%

The stock has a fifty day simple moving average of $20.47 and a two-hundred day simple moving average of $16.44. The company has a market cap of $903.93 million, a PE ratio of -9.13 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, equities research analysts anticipate that Jade Biosciences, Inc. will post -2.43 EPS for the current fiscal year.

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.