Jade Biosciences (NASDAQ:JBIO) Sees Large Volume Increase Following Analyst Upgrade

Jade Biosciences, Inc. (NASDAQ:JBIO) shares saw unusually-high trading volume on Tuesday after William Blair upgraded the stock to a strong-buy rating. Approximately 685,419 shares traded hands during trading, an increase of 154% from the previous session’s volume of 269,583 shares.The stock last traded at $15.0520 and had previously closed at $14.43.

JBIO has been the subject of several other research reports. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Wedbush reiterated an “outperform” rating and issued a $24.00 target price on shares of Jade Biosciences in a report on Monday. Stifel Nicolaus set a $40.00 price target on shares of Jade Biosciences in a research report on Friday. HC Wainwright assumed coverage on shares of Jade Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $25.00 price target for the company. Finally, Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $25.00.

Institutional Investors Weigh In On Jade Biosciences

Institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. purchased a new stake in Jade Biosciences in the 2nd quarter valued at $17,703,000. Geode Capital Management LLC purchased a new position in Jade Biosciences during the 2nd quarter worth $6,759,000. Versant Venture Management LLC bought a new stake in shares of Jade Biosciences in the 2nd quarter worth $15,243,000. Affinity Asset Advisors LLC bought a new stake in shares of Jade Biosciences in the 2nd quarter worth $653,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Jade Biosciences in the second quarter valued at about $71,000.

Jade Biosciences Price Performance

The company’s fifty day moving average price is $14.72 and its 200 day moving average price is $12.05. The company has a market cap of $714.15 million, a PE ratio of -3.14 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Friday, March 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.34.

Jade Biosciences Company Profile

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.