Jade Biosciences, Inc. (NASDAQ:JBIO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $19.00.

JBIO has been the topic of several research analyst reports. Wedbush boosted their price target on Jade Biosciences from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (e)” rating on shares of Jade Biosciences in a research note on Friday. Jefferies Financial Group initiated coverage on Jade Biosciences in a research note on Monday, July 14th. They set a “buy” rating and a $16.00 price target on the stock. BTIG Research assumed coverage on Jade Biosciences in a research note on Thursday, October 9th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $9.80 on Monday. The stock’s 50 day moving average price is $8.57. The stock has a market cap of $319.77 million, a price-to-earnings ratio of -0.32 and a beta of 1.07. Jade Biosciences has a 12 month low of $6.57 and a 12 month high of $105.00.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.43).

Institutional Investors Weigh In On Jade Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in Jade Biosciences in the 2nd quarter valued at $29,000. Russell Investments Group Ltd. acquired a new position in Jade Biosciences in the 2nd quarter valued at $31,000. BNP Paribas Financial Markets acquired a new position in Jade Biosciences in the 2nd quarter valued at $32,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Jade Biosciences during the 2nd quarter worth $33,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Jade Biosciences during the 2nd quarter worth $71,000.

Jade Biosciences Company Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.