Jade Biosciences (NASDAQ:JBIO) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Jade Biosciences (NASDAQ:JBIO) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on JBIO. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. William Blair raised Jade Biosciences to a “strong-buy” rating in a report on Monday. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. Wedbush restated an “outperform” rating and issued a $24.00 target price on shares of Jade Biosciences in a research note on Monday. Finally, Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Jade Biosciences has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Jade Biosciences Stock Down 1.1%

Shares of JBIO stock opened at $13.86 on Tuesday. The business’s 50 day moving average is $14.66 and its two-hundred day moving average is $12.07. Jade Biosciences has a 12 month low of $6.57 and a 12 month high of $100.10. The company has a market cap of $683.58 million, a PE ratio of -3.01 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC bought a new stake in shares of Jade Biosciences in the second quarter worth $6,759,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Jade Biosciences during the 2nd quarter worth about $71,000. Intech Investment Management LLC bought a new position in shares of Jade Biosciences in the 2nd quarter valued at about $230,000. Versant Venture Management LLC acquired a new stake in shares of Jade Biosciences in the second quarter valued at about $15,243,000. Finally, JPMorgan Chase & Co. bought a new stake in Jade Biosciences during the second quarter worth about $154,000.

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.