Stempoint Capital LP Buys New Stake in Jade Biosciences, Inc. $JBIO

Key Points

• Stempoint Capital acquired 154,034 shares of Jade Biosciences, valued at approximately $2.16 million and representing about 0.31% of the company. Several other hedge funds also initiated or increased positions.
• Jade Biosciences reported a quarterly loss of $0.57 per share, missing analysts’ estimate of a $0.52 loss. Shares opened at $19.35, while the company’s market capitalization stood at approximately $955 million.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $51.57, despite some downgrades and a recent 1.8% stock decline.

Stempoint Capital LP bought a new stake in shares of Jade Biosciences, Inc. (NASDAQ:JBIO - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 154,034 shares of the company's stock, valued at approximately $2,164,000. Stempoint Capital LP owned about 0.31% of Jade Biosciences as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Aberdeen Group plc purchased a new stake in shares of Jade Biosciences in the fourth quarter valued at $13,382,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the 4th quarter worth about $25,323,000. Avidity Partners Management LP increased its position 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 purchasing an additional 273,522 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Jade Biosciences in the 1st quarter valued at about $353,000. Finally, 9823 Capital L.P. acquired a new position in Jade Biosciences in the 4th quarter valued at about $821,000.

Jade Biosciences Trading Down 1.8%

Jade Biosciences stock opened at $19.35 on Thursday. The stock has a fifty day moving average price of $19.82 and a 200 day moving average price of $18.20. Jade Biosciences, Inc. has a 52 week low of $6.67 and a 52 week high of $28.00. The firm has a market capitalization of $955.12 million, a P/E ratio of -9.58 and a beta of 1.43.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, equities analysts predict that Jade Biosciences, Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on JBIO shares. Weiss Ratings cut shares of Jade Biosciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, June 16th. Guggenheim reissued a "buy" rating and issued a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Zacks Research raised shares of Jade Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 8th. Wedbush upped their price objective on shares of Jade Biosciences from $34.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of Jade Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given 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 $51.57.

Jade Biosciences 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.