Jade Biosciences (NASDAQ:JBIO) Stock Price Up 7.9% – Still a Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s stock price traded up 7.9% during mid-day trading on Tuesday. The company traded as high as $14.75 and last traded at $14.9250. 257,017 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 765,068 shares. The stock had previously closed at $13.83.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 target price on shares of Jade Biosciences in a research note on Tuesday, August 11th. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Jade Biosciences in a research note on Thursday, October 1st. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Jade Biosciences in a report on Thursday, October 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Jade Biosciences in a research note on Friday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned 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 price target of $51.75.

Jade Biosciences Trading Up 1.8%

The firm has a market cap of $962.22 million, a PE ratio of -7.88 and a beta of 1.64. The stock’s 50 day moving average price is $17.64 and its 200 day moving average price is $19.73.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Analysts forecast that Jade Biosciences, Inc. will post -2.89 earnings per share for the current year.

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new stake in Jade Biosciences in the first quarter valued at about $43,557,000. Stempoint Capital LP bought a new position in Jade Biosciences during the 1st quarter worth approximately $2,164,000. Renaissance Technologies LLC lifted its holdings in Jade Biosciences by 94.0% during the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after buying an additional 65,438 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $1,896,000. Finally, Corient Private Wealth LP acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $1,367,000.

Jade Biosciences Company Profile

Jade Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for autoimmune and other immune-mediated diseases. The company is building a pipeline of antibody-based therapies designed to modulate the immune system and address significant unmet medical needs.

Jade’s development programs include JDB001, an investigational therapeutic being advanced for potential use in immune-mediated conditions. The company’s product candidates remain in clinical development and have not been approved for commercial use.

Jade Biosciences is headquartered in the United States and conducts its research and development activities through a biotechnology-focused operating model.