Jade Biosciences (NASDAQ:JBIO) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Jade Biosciences (NASDAQ:JBIO) from a sell rating to a strong sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on JBIO. HC Wainwright lifted their price target on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 1st. BTIG Research boosted their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 target price on shares of Jade Biosciences in a research report on Tuesday, August 11th. Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Finally, UBS Group began coverage on shares of Jade Biosciences in a report on Monday, June 15th. They issued a “buy” rating and a $45.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Jade Biosciences Price Performance

NASDAQ JBIO opened at $18.18 on Friday. The stock’s 50 day simple moving average is $21.02 and its 200 day simple moving average is $19.62. Jade Biosciences has a one year low of $6.91 and a one year high of $28.00. The firm has a market cap of $1.16 billion, a PE ratio of -9.47 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.10). As a group, equities analysts expect that Jade Biosciences will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quantinno Capital Management LP increased its position in shares of Jade Biosciences by 3.6% during the first quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after acquiring an additional 1,059 shares in the last quarter. Bank of America Corp DE lifted its position in Jade Biosciences by 2.9% in the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after acquiring an additional 1,086 shares in the last quarter. Squarepoint Ops LLC lifted its position in Jade Biosciences by 22.0% in the 2nd quarter. Squarepoint Ops LLC now owns 54,456 shares of the company’s stock valued at $1,210,000 after acquiring an additional 9,806 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Jade Biosciences in the 2nd quarter worth $503,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Jade Biosciences during the 1st quarter worth about $353,000.

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.