Jade Biosciences (NASDAQ:JBIO) Given New $17.00 Price Target at Guggenheim

Jade Biosciences (NASDAQ:JBIO) had its price target increased by Guggenheim from $14.00 to $17.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

JBIO has been the topic of several other reports. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Wedbush upped their price target on Jade Biosciences from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Jade Biosciences in a research report on Friday, October 31st. Finally, BTIG Research assumed coverage on Jade Biosciences in a report on Thursday, October 9th. They issued a “buy” rating and a $28.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Jade Biosciences Stock Performance

NASDAQ:JBIO opened at $12.65 on Tuesday. The company has a market cap of $412.77 million, a price-to-earnings ratio of -1.13 and a beta of 1.07. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The company’s 50-day moving average price is $9.11.

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

Hedge Funds Weigh In On Jade Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in shares of Jade Biosciences by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock valued at $38,000 after buying an additional 1,279 shares in the last quarter. Legal & General Group Plc bought a new stake in Jade Biosciences during the 2nd quarter worth approximately $29,000. BNP Paribas Financial Markets purchased a new position in Jade Biosciences during the second quarter valued at approximately $32,000. Ameritas Investment Partners Inc. bought a new position in shares of Jade Biosciences in the second quarter worth approximately $33,000. Finally, New York State Common Retirement Fund increased its stake in shares of Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after purchasing an additional 5,100 shares in the last quarter.

About Jade Biosciences

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.