Jade Biosciences, Inc. (NASDAQ:JBIO) Short Interest Update

Key Points

• Short interest: As of March 31, short interest in Jade Biosciences (NASDAQ:JBIO) fell 18.5% to 1,251,725 shares, about 3.4% of the float, with a days-to-cover ratio of 2.3.
• Institutional and analyst bullishness: Several firms (notably Aberdeen Group's new ~$13.38M position) added stakes in Q4, and analysts have raised ratings and targets—consensus is a "Moderate Buy" with an average target of about $29.50.
• Stock move and earnings: JBIO rallied ~13.6% to $21.88 on heavy volume after reporting quarterly EPS of ($0.11) versus consensus ($0.45), and the company has a market cap near $1.08 billion.

Jade Biosciences, Inc. (NASDAQ:JBIO - Get Free Report) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 1,251,725 shares, a decline of 18.5% from the March 15th total of 1,534,939 shares. Based on an average daily trading volume, of 553,410 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.4% of the company's stock are sold short.

Institutional Investors Weigh In On Jade Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of JBIO. Aberdeen Group plc acquired a new position in Jade Biosciences in the fourth quarter valued at $13,382,000. Boothbay Fund Management LLC acquired a new stake in shares of Jade Biosciences during the fourth quarter worth about $1,252,000. Millennium Management LLC acquired a new stake in shares of Jade Biosciences during the fourth quarter worth about $969,000. Deutsche Bank AG lifted its holdings in shares of Jade Biosciences by 16.4% in the 4th quarter. Deutsche Bank AG now owns 34,455 shares of the company's stock valued at $532,000 after purchasing an additional 4,859 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Jade Biosciences in the 4th quarter valued at about $333,000.

Jade Biosciences Trading Up 13.6%

JBIO stock traded up $2.62 during trading on Thursday, hitting $21.88. 672,837 shares of the company's stock were exchanged, compared to its average volume of 675,322. The business has a 50-day moving average price of $15.02 and a two-hundred day moving average price of $13.45. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -4.75 and a beta of 1.03. Jade Biosciences has a 52-week low of $6.57 and a 52-week high of $100.10.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last announced its quarterly earnings results on Friday, March 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.34.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JBIO shares. HC Wainwright raised their target price on shares of Jade Biosciences from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. Lifesci Capital raised shares of Jade Biosciences to a "strong-buy" rating in a research report on Friday, March 6th. William Blair upgraded shares of Jade Biosciences to a "strong-buy" rating in a report on Monday, March 9th. BTIG Research lifted their price objective on shares of Jade Biosciences from $28.00 to $39.00 and gave the stock a "buy" rating in a research report on Monday, March 16th. Finally, Wedbush reiterated an "outperform" rating and set a $24.00 target price on shares of Jade Biosciences in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Jade Biosciences currently has an average rating of "Moderate Buy" and an average target price of $29.50.

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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