Jounce Therapeutics (NASDAQ:JNCE) Upgraded to “Hold” by Zacks Investment Research

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

Several other equities research analysts have also weighed in on the company. Cowen upgraded Jounce Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, February 4th. StockNews.com started coverage on Jounce Therapeutics in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Raymond James upgraded Jounce Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $15.00 to $20.00 in a research report on Friday, May 6th. Finally, Sumitomo Mitsui Financial Group assumed coverage on Jounce Therapeutics in a research note on Wednesday, March 16th. They issued an “outperform” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.94.

Shares of Jounce Therapeutics stock opened at $5.26 on Wednesday. The stock has a 50-day simple moving average of $6.58 and a 200-day simple moving average of $7.37. Jounce Therapeutics has a 52-week low of $4.78 and a 52-week high of $9.81. The firm has a market cap of $271.81 million, a price-to-earnings ratio of -2.66 and a beta of 1.12.

Jounce Therapeutics (NASDAQ:JNCEGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.15). During the same period in the previous year, the business posted ($0.58) earnings per share. On average, equities research analysts predict that Jounce Therapeutics will post -1.91 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of JNCE. Morgan Stanley lifted its stake in shares of Jounce Therapeutics by 435.1% during the second quarter. Morgan Stanley now owns 90,731 shares of the company’s stock valued at $617,000 after acquiring an additional 73,775 shares during the period. Invesco Ltd. acquired a new position in shares of Jounce Therapeutics during the second quarter valued at $76,000. SG Americas Securities LLC acquired a new position in shares of Jounce Therapeutics during the third quarter valued at $174,000. BlackRock Inc. lifted its stake in shares of Jounce Therapeutics by 3.2% during the third quarter. BlackRock Inc. now owns 2,534,851 shares of the company’s stock valued at $18,834,000 after acquiring an additional 77,752 shares during the period. Finally, 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 buying an additional 1,696 shares during the period. 78.20% of the stock is currently owned by institutional investors and hedge funds.

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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