Jade Biosciences, Inc. (NASDAQ:JBIO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.75.

Several equities analysts have recently issued reports on JBIO shares. Guggenheim boosted their target price on Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 15th. Finally, BTIG Research started coverage on shares of Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 price target on the stock.

Jade Biosciences Price Performance

JBIO stock opened at $16.87 on Tuesday. The stock has a market capitalization of $776.02 million, a PE ratio of -1.51 and a beta of 1.04. The company has a 50-day moving average price of $11.71. Jade Biosciences has a 12-month low of $6.57 and a 12-month high of $100.10.

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

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds have recently added to or reduced their stakes in JBIO. Russell Investments Group Ltd. lifted its position in shares of Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after buying an additional 1,279 shares in the last quarter. Legal & General Group Plc purchased a new position in Jade Biosciences during the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets purchased a new position in Jade Biosciences during the 2nd quarter valued at approximately $32,000. Ameritas Investment Partners Inc. bought a new stake in Jade Biosciences in the 2nd quarter worth approximately $33,000. Finally, New York State Common Retirement Fund raised its holdings in shares of 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.

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.