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

Key Points

• Wall Street Zen downgraded Jade Biosciences (NASDAQ: JBIO) from “hold” to “sell”, even as other analysts remain mostly positive on the stock.
• Despite the downgrade, the broader analyst view is still constructive: MarketBeat shows a “Moderate Buy” consensus with a $31.17 average price target, and multiple firms recently raised ratings or targets.
• Jade Biosciences reported a Q1 EPS loss of $0.57, missing expectations by $0.05, while the stock was trading at $25.81 with a market cap of about $1.27 billion.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other equities analysts have also issued reports on the company. William Blair upgraded Jade Biosciences to a "strong-buy" rating in a research note on Monday, March 9th. BTIG Research lifted their target price on Jade Biosciences from $28.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Wedbush reiterated an "outperform" rating and issued a $24.00 target price on shares of Jade Biosciences in a research note on Monday, March 9th. Zacks Research upgraded Jade Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, Guggenheim increased their price target on Jade Biosciences from $17.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.17.

Jade Biosciences Price Performance

JBIO opened at $25.81 on Friday. The business's 50-day moving average is $17.63 and its two-hundred day moving average is $14.93. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $28.00. The firm has a market capitalization of $1.27 billion, a PE ratio of -12.78 and a beta of 1.52.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, sell-side analysts expect that Jade Biosciences will post -2.21 EPS for the current year.

Institutional Investors Weigh In On Jade Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd purchased a new stake in Jade Biosciences in the first quarter valued at about $353,000. Invesco Ltd. raised its stake in Jade Biosciences by 477.6% in the fourth quarter. Invesco Ltd. now owns 199,727 shares of the company's stock valued at $3,082,000 after buying an additional 165,151 shares during the last quarter. Ikarian Capital LLC purchased a new stake in Jade Biosciences in the fourth quarter valued at about $4,629,000. Virtus Investment Advisers LLC acquired a new position in shares of Jade Biosciences in the fourth quarter valued at about $274,000. Finally, Opaleye Management Inc. acquired a new position in shares of Jade Biosciences in the fourth quarter valued at about $6,598,000.

About Jade Biosciences

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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