Jade Biosciences (NASDAQ:JBIO) Stock Moved Up to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Jade Biosciences from “strong sell” to “sell,” while broader analyst sentiment remains “Moderate Buy,” with an average price target of $51.75.
• Analysts’ ratings are mixed: two rate the stock Strong Buy, six Buy, one Hold, and one Sell; individual price targets range from $47 to $77.
• Jade reported a quarterly loss of $0.42 per share, beating analysts’ expected loss of $0.73 per share by $0.31.

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

JBIO has been the topic of several other research reports. Wedbush restated an "outperform" rating and issued a $47.00 target price on shares of Jade Biosciences in a report on Thursday, October 1st. HC Wainwright reissued a "buy" rating and issued a $55.00 price objective on shares of Jade Biosciences in a research report on Thursday, October 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Jade Biosciences in a research report on Friday, September 11th. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price objective on shares of Jade Biosciences in a research note on Tuesday, August 11th. Finally, BTIG Research restated a "buy" rating and set a $77.00 target price on shares of Jade Biosciences in a research report on Tuesday, October 27th. Two research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.75.

Jade Biosciences Stock Performance

Jade Biosciences stock opened at $16.14 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -8.41 and a beta of 1.81. Jade Biosciences has a 52-week low of $9.60 and a 52-week high of $28.00. The firm has a 50 day moving average price of $15.32 and a two-hundred day moving average price of $18.14.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last posted its quarterly earnings data on Friday, November 13th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.73) by $0.31. As a group, equities research analysts predict that Jade Biosciences will post -2.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of Jade Biosciences during the second quarter valued at about $1,896,000. Renaissance Technologies LLC boosted its holdings in Jade Biosciences by 94.0% in the first quarter. Renaissance Technologies LLC now owns 135,039 shares of the company's stock worth $1,897,000 after acquiring an additional 65,438 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Jade Biosciences in the first quarter valued at approximately $43,557,000. Stempoint Capital LP acquired a new stake in Jade Biosciences in the first quarter valued at approximately $2,164,000. Finally, Maven Securities LTD bought a new stake in shares of Jade Biosciences during the second quarter valued at approximately $1,111,000.

About Jade Biosciences

Jade Biosciences is a biotechnology company developing antibody-based treatments for autoimmune diseases. Its research focuses on targets involved in immune activity that can contribute to chronic disease. The company's lead program, JADE101, is an antibody designed to block APRIL, a protein involved in the production of antibodies. Jade is developing the candidate for IgA nephropathy, a kidney disease in which abnormal IgA antibodies can damage the kidneys. Jade's pipeline is focused on potential therapies for autoimmune conditions.

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