Jade Biosciences' (JBIO) Buy Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed its “buy” rating on Jade Biosciences and set a $77 price target, implying 434.72% upside from the stock’s $14.40 opening price.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and average price target of $51.75; targets from other firms range from $47 to $55, while some firms maintain sell ratings.
• Jade reported a quarterly loss of $0.76 per share, missing consensus expectations by $0.10. The clinical-stage biotechnology company is developing antibody-based therapies for autoimmune and immune-mediated diseases.

Jade Biosciences (NASDAQ:JBIO - Get Free Report)'s stock had its "buy" rating restated by research analysts at BTIG Research in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $77.00 price objective on the stock. BTIG Research's target price would indicate a potential upside of 434.72% from the company's current price.

JBIO has been the subject of a number of other reports. Wall Street Zen cut shares of Jade Biosciences from a "sell" rating to a "strong sell" rating in a report on Saturday, September 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Jade Biosciences in a report on Friday, September 11th. HC Wainwright reiterated a "buy" rating and set a $55.00 price objective on shares of Jade Biosciences in a report on Thursday, October 1st. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 price objective on shares of Jade Biosciences in a report on Tuesday, August 11th. Finally, Wedbush reiterated an "outperform" rating and set a $47.00 price objective on shares of Jade Biosciences in a report on Thursday, October 1st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Jade Biosciences has a consensus rating of "Moderate Buy" and an average price target of $51.75.

Jade Biosciences Trading Down 2.3%

NASDAQ:JBIO opened at $14.40 on Tuesday. The stock has a market capitalization of $915.80 million, a price-to-earnings ratio of -7.50 and a beta of 1.64. The firm has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $18.13. Jade Biosciences has a 12 month low of $8.36 and a 12 month high of $28.00.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.10). Equities analysts predict that Jade Biosciences will post -2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new position in shares of Jade Biosciences during the second quarter valued at about $503,000. Maven Securities LTD bought a new position in shares of Jade Biosciences during the second quarter valued at about $1,111,000. Squarepoint Ops LLC lifted its position in shares of Jade Biosciences by 22.0% during the second quarter. Squarepoint Ops LLC now owns 54,456 shares of the company's stock valued at $1,210,000 after purchasing an additional 9,806 shares in the last quarter. Corient Private Wealth LP bought a new position in shares of Jade Biosciences during the second quarter valued at about $1,367,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Jade Biosciences during the second quarter valued at about $1,896,000.

About Jade Biosciences

Jade Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for autoimmune and other immune-mediated diseases. The company is building a pipeline of antibody-based therapies designed to modulate the immune system and address significant unmet medical needs.

Jade's development programs include JDB001, an investigational therapeutic being advanced for potential use in immune-mediated conditions. The company's product candidates remain in clinical development and have not been approved for commercial use.

Jade Biosciences is headquartered in the United States and conducts its research and development activities through a biotechnology-focused operating model.