Affinity Asset Advisors LLC Decreases Holdings in Jade Biosciences, Inc. $JBIO

Affinity Asset Advisors LLC reduced its position in Jade Biosciences, Inc. (NASDAQ:JBIO) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 639,956 shares of the company’s stock after selling 75,000 shares during the period. Affinity Asset Advisors LLC owned approximately 1.30% of Jade Biosciences worth $8,991,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Aberdeen Group plc bought a new position in Jade Biosciences in the 4th quarter valued at about $13,382,000. Baker BROS. Advisors LP purchased a new stake in shares of Jade Biosciences in the 4th quarter valued at approximately $25,323,000. Avidity Partners Management LP raised its stake in Jade Biosciences by 24.3% during the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after purchasing an additional 273,522 shares during the period. 9823 Capital L.P. purchased a new stake in shares of Jade Biosciences in the fourth quarter valued at $821,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Jade Biosciences in the first quarter valued at $353,000.

Jade Biosciences Stock Up 2.3%

Shares of JBIO stock opened at $20.08 on Friday. Jade Biosciences, Inc. has a 12 month low of $6.67 and a 12 month high of $28.00. The firm has a market cap of $991.15 million, a PE ratio of -9.94 and a beta of 1.43. The stock has a 50 day moving average of $19.99 and a 200-day moving average of $18.03.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, equities analysts predict that Jade Biosciences, Inc. will post -2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BTIG Research lifted their price target on Jade Biosciences from $39.00 to $74.00 and gave the company a “buy” rating in a report on Monday, June 1st. Weiss Ratings downgraded Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Piper Sandler set a $55.00 target price on Jade Biosciences in a research note on Tuesday, June 2nd. Finally, Wedbush upped their target price on Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.57.

Jade Biosciences 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.