Wall Street Zen Downgrades Jade Biosciences (NASDAQ:JBIO) to Sell

Jade Biosciences (NASDAQ:JBIO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

JBIO has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $24.00 price objective on shares of Jade Biosciences in a report on Monday, March 9th. William Blair raised Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. BTIG Research lifted their price target on Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, HC Wainwright boosted their price target on Jade Biosciences from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Jade Biosciences has a consensus rating of “Moderate Buy” and an average price target of $31.17.

Jade Biosciences Price Performance

JBIO stock opened at $25.81 on Friday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -12.78 and a beta of 1.52. The company has a 50 day simple moving average of $17.63 and a 200 day simple moving average of $14.93. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, equities research analysts anticipate that Jade Biosciences will post -2.21 EPS for the current fiscal year.

Institutional Trading of Jade Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of JBIO. Aberdeen Group plc bought a new stake in shares of Jade Biosciences in the 4th quarter valued at about $13,382,000. Rhumbline Advisers bought a new position in shares of Jade Biosciences during the second quarter worth about $445,000. MetLife Investment Management LLC lifted its stake in shares of Jade Biosciences by 96.2% in the fourth quarter. MetLife Investment Management LLC now owns 26,069 shares of the company’s stock worth $402,000 after acquiring an additional 12,785 shares during the period. Virtus Investment Advisers LLC bought a new stake in Jade Biosciences in the fourth quarter valued at approximately $274,000. Finally, New York State Common Retirement Fund grew its holdings in Jade Biosciences by 180.0% during the 4th quarter. New York State Common Retirement Fund now owns 14,622 shares of the company’s stock worth $226,000 after acquiring an additional 9,400 shares during the period.

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.