Opaleye Management Inc. Reduces Stock Holdings in Jade Biosciences, Inc. $JBIO

Opaleye Management Inc. trimmed its position in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) by 66.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 145,000 shares of the company’s stock after selling 282,608 shares during the quarter. Opaleye Management Inc.’s holdings in Jade Biosciences were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. RA Capital Management L.P. raised its stake in shares of 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 buying an additional 2,608,757 shares during the period. Janus Henderson Group PLC purchased a new stake in Jade Biosciences in the 1st quarter worth about $43,557,000. Baker BROS. Advisors LP bought a new stake in Jade Biosciences in the 4th quarter valued at about $25,323,000. Remedium Capital Partners LLC bought a new stake in Jade Biosciences in the 4th quarter valued at about $24,345,000. Finally, Avidity Partners Management LP lifted its holdings in Jade Biosciences by 24.3% during the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after purchasing an additional 273,522 shares during the last quarter.

Jade Biosciences Stock Up 0.4%

Shares of JBIO opened at $19.14 on Friday. The business’s 50-day moving average price is $21.15 and its 200-day moving average price is $19.56. Jade Biosciences, Inc. has a twelve month low of $6.91 and a twelve month high of $28.00. The stock has a market cap of $1.22 billion, a PE ratio of -9.97 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on JBIO shares. Wedbush increased their target price on shares of Jade Biosciences from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings cut shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Jade Biosciences in a report on Tuesday, June 2nd. HC Wainwright lifted their price objective on shares of Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, UBS Group assumed coverage on shares of Jade Biosciences in a report on Monday, June 15th. They set a “buy” rating and a $45.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.