Jounce Therapeutics (NASDAQ:JNCE) Downgraded to Sell at Zacks Investment Research

Jounce Therapeutics (NASDAQ:JNCEGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “

A number of other equities research analysts have also weighed in on the stock. Cowen upgraded shares of Jounce Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, February 4th. Sumitomo Mitsui Financial Group initiated coverage on Jounce Therapeutics in a research note on Wednesday, March 16th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, StockNews.com started coverage on Jounce Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Jounce Therapeutics presently has an average rating of “Hold” and an average price target of $13.69.

Shares of NASDAQ:JNCE opened at $5.22 on Thursday. Jounce Therapeutics has a 52-week low of $4.81 and a 52-week high of $9.81. The business’s 50 day simple moving average is $6.75 and its two-hundred day simple moving average is $7.48. The firm has a market cap of $269.69 million, a P/E ratio of -2.84 and a beta of 1.12.

Jounce Therapeutics (NASDAQ:JNCEGet Rating) last issued its earnings results on Wednesday, March 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.36). During the same period in the prior year, the company posted $0.86 earnings per share. On average, equities research analysts expect that Jounce Therapeutics will post -1.91 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Jounce Therapeutics in the first quarter valued at approximately $26,000. Royal Bank of Canada raised its holdings in shares of Jounce Therapeutics by 77.2% in the 3rd quarter. Royal Bank of Canada now owns 4,533 shares of the company’s stock worth $34,000 after purchasing an additional 1,975 shares during the period. Citigroup Inc. lifted its stake in Jounce Therapeutics by 36.3% in the third quarter. Citigroup Inc. now owns 6,369 shares of the company’s stock valued at $47,000 after purchasing an additional 1,696 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Jounce Therapeutics by 184.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,406 shares of the company’s stock worth $70,000 after acquiring an additional 6,103 shares during the period. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Jounce Therapeutics in the 3rd quarter worth about $71,000. Hedge funds and other institutional investors own 78.20% of the company’s stock.

About Jounce Therapeutics (Get Rating)

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company develops vopratelimab, a clinical-stage monoclonal antibody, which is in Phase II clinical trial that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors.

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