Jade Biosciences (NASDAQ:JBIO) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Jade Biosciences to “Strong Sell” from “Sell,” despite broader analyst sentiment remaining positive, with a consensus “Moderate Buy” rating and an average price target of $51.75.
• JBIO shares opened at $17.89, well below their 50-day moving average of $21.08, while the company reported a quarterly loss of $0.76 per share—$0.10 worse than analysts expected.
• Several institutional investors recently initiated or increased positions in Jade Biosciences, a clinical-stage biotechnology company developing small-molecule treatments for inflammatory skin diseases and chronic itch.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also recently commented on JBIO. BTIG Research lifted their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of Jade Biosciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, June 16th. Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a report on Tuesday, June 2nd. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 price objective on shares of Jade Biosciences in a research note on Tuesday, August 11th. Finally, Guggenheim reiterated a "buy" rating and set a $47.00 price objective on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.75.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $17.89 on Friday. The business's 50-day moving average is $21.08 and its 200 day moving average is $19.55. Jade Biosciences has a 1 year low of $6.91 and a 1 year high of $28.00. The firm has a market capitalization of $1.14 billion, a P/E ratio of -9.32 and a beta of 1.45.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). On average, analysts expect that Jade Biosciences will post -2.84 EPS for the current year.

Institutional Investors Weigh In On Jade Biosciences

A number of large investors have recently bought and sold shares of JBIO. Legal & General Group Plc acquired a new position in Jade Biosciences in the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Jade Biosciences in the 2nd quarter valued at $31,000. BNP Paribas Financial Markets purchased a new stake in shares of Jade Biosciences in the 2nd quarter valued at $32,000. California State Teachers Retirement System increased its stake in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company's stock worth $44,000 after acquiring an additional 819 shares during the period. Finally, Group One Trading LLC increased its stake in shares of Jade Biosciences by 122.9% in the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company's stock worth $65,000 after acquiring an additional 22,527 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.

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