Geode Capital Management LLC Purchases Shares of 676,431 Jade Biosciences, Inc. $JBIO

Geode Capital Management LLC acquired a new position in shares of Jade Biosciences, Inc. (NASDAQ:JBIO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 676,431 shares of the company’s stock, valued at approximately $6,759,000. Geode Capital Management LLC owned about 80.43% of Jade Biosciences at the end of the most recent quarter.

Separately, Deltec Asset Management LLC bought a new stake in Jade Biosciences during the 2nd quarter worth approximately $157,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JBIO. BTIG Research began coverage on Jade Biosciences in a research report on Thursday, October 9th. They issued a “buy” rating and a $28.00 price objective for the company. Wedbush lifted 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 reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday. Guggenheim raised their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Jade Biosciences has an average rating of “Moderate Buy” and an average target price of $19.75.

Jade Biosciences Stock Up 8.9%

Shares of JBIO opened at $13.50 on Friday. The firm’s fifty day moving average price is $10.32. The firm has a market capitalization of $621 million, a price-to-earnings ratio of -1.21 and a beta of 1.04. Jade Biosciences, Inc. has a 12-month low of $6.57 and a 12-month high of $100.10.

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

Jade Biosciences Company Profile

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.