HC Wainwright Issues Positive Forecast for Jade Biosciences (NASDAQ:JBIO) Stock Price

Jade Biosciences (NASDAQ:JBIO) had its target price upped by HC Wainwright from $25.00 to $35.00 in a research note released on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other analysts have also recently commented on JBIO. Zacks Research cut shares of Jade Biosciences from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 10th. Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of Jade Biosciences in a research note on Monday, March 9th. BTIG Research upped their target price 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Finally, Guggenheim lifted their price target on Jade Biosciences from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Jade Biosciences Stock Up 5.2%

Shares of Jade Biosciences stock opened at $13.95 on Wednesday. Jade Biosciences has a 12-month low of $6.57 and a 12-month high of $100.10. The stock has a market cap of $687.96 million, a P/E ratio of -3.03 and a beta of 1.03. The business’s 50 day moving average is $14.71 and its 200-day moving average is $12.49.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. increased its holdings in shares of Jade Biosciences by 245.6% during the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after purchasing an additional 2,608,757 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in shares of Jade Biosciences in the second quarter valued at approximately $17,703,000. Baker BROS. Advisors LP acquired a new stake in Jade Biosciences during the fourth quarter worth approximately $25,323,000. Remedium Capital Partners LLC acquired a new stake in Jade Biosciences during the fourth quarter worth approximately $24,345,000. Finally, Avidity Partners Management LP increased 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 worth $21,613,000 after acquiring an additional 273,522 shares during the period.

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.