Bank of New York Mellon Corp Invests $1.90 Million in Jade Biosciences, Inc. $JBIO

Key Points

• Bank of New York Mellon purchased 85,343 shares of Jade Biosciences, valued at approximately $1.90 million, giving it a roughly 0.17% stake. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $51.75, well above the reported share price of $19.45.
• Jade Biosciences shares were down 2.3%, while the company reported a quarterly loss of $0.76 per share—worse than the $0.66 consensus estimate. Analysts expect a full-year loss of $2.84 per share.

Bank of New York Mellon Corp purchased a new stake in shares of Jade Biosciences, Inc. (NASDAQ:JBIO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 85,343 shares of the company's stock, valued at approximately $1,896,000. Bank of New York Mellon Corp owned approximately 0.17% of Jade Biosciences at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System increased its position in Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company's stock valued at $44,000 after acquiring an additional 819 shares in the last quarter. Legal & General Group Plc acquired a new position in Jade Biosciences during the 2nd quarter worth $29,000. Russell Investments Group Ltd. bought a new position in Jade Biosciences in the 2nd quarter valued at $31,000. BNP Paribas Financial Markets acquired a new stake in shares of Jade Biosciences in the 2nd quarter valued at $32,000. Finally, Group One Trading LLC raised its position in shares of Jade Biosciences by 122.9% during 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 last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JBIO. Weiss Ratings cut Jade Biosciences from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. UBS Group assumed coverage on shares of Jade Biosciences in a research report on Monday, June 15th. They set a "buy" rating and a $45.00 target price on the stock. Wedbush raised their target price on shares of Jade Biosciences from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Guggenheim reiterated a "buy" rating and set a $47.00 price target on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Finally, Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently 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 $19.45 on Wednesday. Jade Biosciences, Inc. has a 1-year low of $6.91 and a 1-year high of $28.00. The business's 50-day moving average price is $21.25 and its two-hundred day moving average price is $19.50. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -10.13 and a beta of 1.45.

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

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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