Jade Biosciences’ (JBIO) Buy Rating Reiterated at HC Wainwright

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $55.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 291.46% from the stock’s current price.

Several other brokerages also recently commented on JBIO. UBS Group began coverage on Jade Biosciences in a research note on Monday, June 15th. They set a “buy” rating and a $45.00 target price for the company. Wedbush restated an “outperform” rating on shares of Jade Biosciences in a research note on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Jade Biosciences in a report on Tuesday, August 11th. BTIG Research upped their price objective on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of Jade Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Two investment 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 given a Sell rating to the stock. Based on data from MarketBeat, Jade Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Jade Biosciences Stock Performance

Shares of JBIO opened at $14.05 on Thursday. Jade Biosciences has a 52-week low of $8.16 and a 52-week high of $28.00. The business’s fifty day moving average is $19.69 and its 200-day moving average is $19.74. The firm has a market cap of $893.58 million, a price-to-earnings ratio of -7.32 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) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). As a group, research analysts forecast that Jade Biosciences will post -2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Several large investors have recently bought and sold shares of JBIO. Engineers Gate Manager LP acquired a new position in shares of Jade Biosciences in the second quarter valued at approximately $503,000. Maven Securities LTD acquired a new stake in Jade Biosciences during the 2nd quarter worth approximately $1,111,000. Squarepoint Ops LLC boosted its position in Jade Biosciences by 22.0% during the 2nd quarter. Squarepoint Ops LLC now owns 54,456 shares of the company’s stock worth $1,210,000 after buying an additional 9,806 shares during the period. Corient Private Wealth LP bought a new stake in Jade Biosciences during the 2nd quarter worth approximately $1,367,000. Finally, Bank of New York Mellon Corp bought a new stake in Jade Biosciences during the 2nd quarter worth approximately $1,896,000.

About Jade Biosciences

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.