Jade Biosciences (NASDAQ:JBIO) Upgraded at Zacks Research

Zacks Research upgraded shares of Jade Biosciences (NASDAQ:JBIO) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

JBIO has been the topic of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. BTIG Research raised their price target on shares of Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a report on Monday, March 16th. Guggenheim raised their price target on shares of Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Finally, Wedbush reissued an “outperform” rating and issued a $24.00 target price on shares of Jade Biosciences in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.50.

Jade Biosciences Price Performance

NASDAQ:JBIO opened at $17.89 on Wednesday. The company has a market cap of $882.33 million, a P/E ratio of -3.88 and a beta of 1.03. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $100.10. The stock’s fifty day moving average price is $14.72 and its two-hundred day moving average price is $13.13.

Jade Biosciences (NASDAQ:JBIO) last posted its earnings results on Friday, March 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.34.

Hedge Funds Weigh In On Jade Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Jade Biosciences by 40.3% during the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after purchasing an additional 819 shares during the last quarter. Russell Investments Group Ltd. grew its stake in 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 acquiring an additional 1,279 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Jade Biosciences by 16.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock valued at $187,000 after acquiring an additional 1,709 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Jade Biosciences by 26.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock valued at $216,000 after acquiring an additional 2,940 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Jade Biosciences during the 2nd quarter valued at about $29,000.

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.