Jade Biosciences (NASDAQ:JBIO) Stock Price Down 4.7% – Should You Sell?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price traded down 4.7% during trading on Friday . The company traded as low as $18.28 and last traded at $18.2350. 550,875 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 724,332 shares. The stock had previously closed at $19.14.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on JBIO shares. Wall Street Zen downgraded shares of Jade Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday. Piper Sandler set a $55.00 price objective on shares of Jade Biosciences in a research note on Tuesday, June 2nd. BTIG Research boosted their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings lowered shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Finally, Guggenheim restated a “buy” rating and issued a $47.00 price target on shares of Jade Biosciences in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Jade Biosciences Stock Performance

The business has a 50 day moving average of $21.08 and a two-hundred day moving average of $19.55. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.32 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last announced 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). On average, equities analysts predict that Jade Biosciences, Inc. will post -2.84 EPS for the current fiscal year.

Institutional Trading of Jade Biosciences

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in Jade Biosciences during the 2nd quarter valued at $154,000. Legal & General Group Plc bought a new position in shares of Jade Biosciences in the second quarter valued at $29,000. Rhumbline Advisers acquired a new position in shares of Jade Biosciences during the second quarter valued at about $445,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences during the second quarter worth about $31,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Jade Biosciences during the second quarter worth about $114,000.

Jade Biosciences Company Profile

Jade Biosciences, Inc (NASDAQ: JBIO) is a clinical-stage biotechnology company focused on developing medicines for autoimmune and inflammatory diseases. The company uses antibody-based drug discovery and development approaches to pursue therapies intended to address significant unmet medical needs.

Jade Biosciences is advancing a pipeline of investigational programs and does not currently have commercially marketed products. Its work is centered on identifying and developing targeted therapies that may modulate biological pathways involved in autoimmune disease.

The company’s activities primarily consist of research, preclinical development and clinical evaluation of its drug candidates.