Jade Biosciences (NASDAQ:JBIO) Stock Price Down 4.6% – Here’s Why

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) traded down 4.6% during mid-day trading on Thursday . The company traded as low as $19.92 and last traded at $20.4210. Approximately 151,162 shares were traded during trading, a decline of 79% from the average daily volume of 710,283 shares. The stock had previously closed at $21.40.

Analyst Upgrades and Downgrades

Several analysts have commented on JBIO shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Jade Biosciences in a research report on Tuesday, August 11th. BTIG Research upped their price objective on Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, August 10th. UBS Group initiated coverage on Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 price objective for the company. Wall Street Zen downgraded Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wedbush increased their price objective on Jade Biosciences from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Jade Biosciences Trading Down 6.4%

The stock has a market cap of $1.27 billion, a PE ratio of -10.42 and a beta of 1.45. The business has a fifty day simple moving average of $21.44 and a two-hundred day simple moving average of $19.35.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). On average, research analysts predict that Jade Biosciences, Inc. will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JBIO. Legal & General Group Plc bought a new stake in shares of Jade Biosciences during the second quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Jade Biosciences during the 2nd quarter valued at about $31,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences in the second quarter worth approximately $32,000. California State Teachers Retirement System grew its stake in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after acquiring an additional 819 shares during the period. Finally, Group One Trading LLC raised its holdings in shares of Jade Biosciences by 122.9% during the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after purchasing an additional 22,527 shares during the last quarter.

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.