Short Interest in Jade Biosciences, Inc. (NASDAQ:JBIO) Increases By 47.9%

Jade Biosciences, Inc. (NASDAQ:JBIO) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 1,546,739 shares, a growth of 47.9% from the December 15th total of 1,046,137 shares. Based on an average daily trading volume, of 465,345 shares, the short-interest ratio is currently 3.3 days. Currently, 4.2% of the shares of the stock are short sold. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 465,345 shares, the short-interest ratio is currently 3.3 days.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO remained flat at $14.70 on Friday. The stock had a trading volume of 271,861 shares, compared to its average volume of 358,181. The company has a market capitalization of $724.86 million, a PE ratio of -1.32 and a beta of 1.02. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The stock’s 50 day simple moving average is $13.66 and its 200 day simple moving average is $10.34.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aberdeen Group plc bought a new stake in Jade Biosciences during the 4th quarter valued at $13,382,000. Two Sigma Investments LP purchased a new position in shares of Jade Biosciences during the third quarter valued at $212,000. BNP Paribas Financial Markets raised its holdings in shares of Jade Biosciences by 363.4% in the third quarter. BNP Paribas Financial Markets now owns 14,931 shares of the company’s stock valued at $129,000 after acquiring an additional 11,709 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Jade Biosciences by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after acquiring an additional 1,279 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Jade Biosciences by 4,180.3% during the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after acquiring an additional 5,100 shares in the last quarter.

Analyst Upgrades and Downgrades

JBIO has been the subject of a number of analyst reports. BTIG Research began coverage on shares of Jade Biosciences in a report on Thursday, October 9th. They issued a “buy” rating and a $28.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. HC Wainwright started coverage on Jade Biosciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $25.00 target price for the company. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Guggenheim raised their price target on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Jade Biosciences presently has an average rating of “Moderate Buy” and an average price target of $20.80.

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.