Jade Biosciences (NASDAQ:JBIO) Stock Price Down 5.2% – Time to Sell?

Jade Biosciences, Inc. (NASDAQ:JBIO) shares fell 5.2% during trading on Tuesday . The stock traded as low as $15.50 and last traded at $15.2650. 44,380 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 575,697 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JBIO. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Weiss Ratings upgraded Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wedbush lifted their target price on Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, BTIG Research lifted their target price on Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $47.13.

Jade Biosciences Trading Down 2.8%

The business has a 50-day moving average price of $21.00 and a two-hundred day moving average price of $16.83. The firm has a market capitalization of $772.48 million, a price-to-earnings ratio of -7.76 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly 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 predict that Jade Biosciences, Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Jade Biosciences

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased 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 during the period. Stempoint Capital LP acquired a new stake in Jade Biosciences in the 1st quarter valued at approximately $2,164,000. Janus Henderson Group PLC acquired a new stake in Jade Biosciences in the 1st quarter valued at approximately $43,557,000. Quantinno Capital Management LP increased its position in Jade Biosciences by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock valued at $429,000 after acquiring an additional 1,059 shares during the period. Finally, Renaissance Technologies LLC increased its position in Jade Biosciences by 94.0% in the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock valued at $1,897,000 after acquiring an additional 65,438 shares during the period.

About Jade Biosciences

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.