Jade Biosciences (NASDAQ:JBIO) Receives Sell (E-) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell" rating for Jade Biosciences (NASDAQ:JBIO) in a recent research report, amidst mixed analyst opinions.
• While some analysts like Wedbush upgraded the stock's target price to $18.00, others like Wall Street Zen downgraded it to a "sell," indicating a divided sentiment among experts.
• Jade Biosciences reported earnings of ($0.86) per share for the last quarter, missing analysts' expectations significantly.

Jade Biosciences (NASDAQ:JBIO - Get Free Report)'s stock had its "sell (e-)" rating reiterated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research analysts also recently commented on JBIO. Wedbush increased their price objective on shares of Jade Biosciences from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Jade Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Jefferies Financial Group started coverage on shares of Jade Biosciences in a report on Monday, July 14th. They set a "buy" rating and a $16.00 price objective for the company. Finally, Guggenheim raised shares of Jade Biosciences from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a report on Monday, June 16th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Jade Biosciences Price Performance

Shares of Jade Biosciences stock opened at $9.08 on Wednesday. The company has a market cap of $296.25 million, a P/E ratio of -0.30 and a beta of 1.05. The business has a fifty day moving average price of $7.79. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $105.00.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.43).

Institutional Trading of Jade Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JBIO. Frazier Life Sciences Management L.P. purchased a new stake in Jade Biosciences in the 2nd quarter worth about $17,703,000. Versant Venture Management LLC purchased a new stake in Jade Biosciences in the 2nd quarter worth about $15,243,000. Soleus Capital Management L.P. purchased a new stake in Jade Biosciences in the 2nd quarter worth about $7,959,000. Geode Capital Management LLC purchased a new stake in Jade Biosciences in the 2nd quarter worth about $6,759,000. Finally, Orbimed Advisors LLC purchased a new stake in Jade Biosciences in the 2nd quarter worth about $5,306,000.

Jade Biosciences Company Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.

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