Jade Biosciences (NASDAQ:JBIO) Stock Price Down 4.2% – What’s Next?

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) fell 4.2% during mid-day trading on Monday . The company traded as low as $18.55 and last traded at $18.9120. Approximately 65,607 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 702,513 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. Piper Sandler set a $55.00 price target on Jade Biosciences in a research note on Tuesday, June 2nd. Guggenheim reissued a “buy” rating and set a $47.00 price target on shares of Jade Biosciences in a report on Tuesday, June 2nd. Wedbush lifted their price objective on shares of Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Finally, HC Wainwright upped their price objective on shares of Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Jade Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.57.

Jade Biosciences Stock Performance

The stock has a market capitalization of $1.05 billion, a P/E ratio of -10.57 and a beta of 1.49. The business has a 50 day simple moving average of $19.63 and a 200-day simple moving average of $18.37.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). Equities research analysts forecast that Jade Biosciences, Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of JBIO. RA Capital Management L.P. boosted its position in shares of Jade Biosciences by 245.6% during the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after purchasing an additional 2,608,757 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Jade Biosciences in the 1st quarter worth approximately $43,557,000. Baker BROS. Advisors LP acquired a new stake in Jade Biosciences during the fourth quarter valued at approximately $25,323,000. Remedium Capital Partners LLC bought a new stake in Jade Biosciences during the fourth quarter worth approximately $24,345,000. Finally, Avidity Partners Management LP boosted its holdings in Jade Biosciences by 24.3% during the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after buying an additional 273,522 shares in the last quarter.

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.