Renaissance Technologies LLC Boosts Holdings in Jade Biosciences, Inc. $JBIO

Renaissance Technologies LLC boosted its holdings in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) by 94.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,039 shares of the company’s stock after buying an additional 65,438 shares during the quarter. Renaissance Technologies LLC owned approximately 0.27% of Jade Biosciences worth $1,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in Jade Biosciences in the second quarter worth approximately $29,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences during the 2nd quarter valued at $31,000. BNP Paribas Financial Markets purchased a new stake in shares of Jade Biosciences in the 2nd quarter worth $32,000. California State Teachers Retirement System raised its holdings in Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after purchasing an additional 819 shares during the period. Finally, Group One Trading LLC raised its holdings in Jade Biosciences by 122.9% in the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after purchasing an additional 22,527 shares during the period.

Jade Biosciences Price Performance

JBIO stock opened at $22.35 on Wednesday. Jade Biosciences, Inc. has a 1-year low of $6.67 and a 1-year high of $28.00. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.64 and a beta of 1.49. The business has a 50 day simple moving average of $19.84 and a two-hundred day simple moving average of $18.61.

Jade Biosciences (NASDAQ:JBIO) last released 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). Sell-side analysts anticipate that Jade Biosciences, Inc. will post -2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. BTIG Research boosted their price target on Jade Biosciences from $74.00 to $77.00 and gave the company a “buy” rating in a report on Monday. HC Wainwright raised their price objective on Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Jade Biosciences in a research report on Tuesday. Weiss Ratings downgraded Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Finally, Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Jade Biosciences has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.