Jade Biosciences (NASDAQ:JBIO) Stock Price Up 5% – Should You Buy?

Jade Biosciences, Inc. (NASDAQ:JBIO)’s share price was up 5% during trading on Wednesday. The company traded as high as $13.87 and last traded at $14.0850. Approximately 271,847 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 749,033 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JBIO. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Jade Biosciences in a report on Thursday, October 1st. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Jade Biosciences in a report on Tuesday, August 11th. BTIG Research increased their target price on Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Jade Biosciences in a report on Friday, September 11th. Finally, UBS Group initiated coverage on shares of Jade Biosciences in a research report on Monday, June 15th. They set a “buy” rating and a $45.00 price target for the company. Two 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Jade Biosciences Stock Up 5.3%

The company has a market cap of $897.99 million, a P/E ratio of -7.34 and a beta of 1.64. The business has a fifty day simple moving average of $19.21 and a two-hundred day simple moving average of $19.74.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). On average, equities analysts predict that Jade Biosciences, Inc. will post -2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new position in Jade Biosciences during the first quarter valued at $43,557,000. Baker BROS. Advisors LP bought a new position in shares of Jade Biosciences in the fourth quarter worth about $25,323,000. Avidity Partners Management LP lifted its holdings in Jade Biosciences by 24.3% during the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after buying an additional 273,522 shares in the last quarter. Stempoint Capital LP purchased a new stake in shares of Jade Biosciences in the first quarter valued at approximately $2,164,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Jade Biosciences by 94.0% in 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 period.

Jade Biosciences Company Profile

Jade Biosciences, Inc is a clinical-stage biotechnology company focused on developing therapies for autoimmune and inflammatory diseases. The company’s research and development efforts are directed toward antibody-based medicines designed to address significant unmet needs in immune-mediated conditions.

Jade’s pipeline includes investigational therapeutic programs intended to modulate biological pathways involved in inflammation and immune-system activity. As a development-stage company, its products remain subject to clinical testing and regulatory review, and there is no assurance that any candidate will receive approval or reach the commercial market.

The company is headquartered in the United States and is developing its portfolio for potential use in global markets.