Jade Biosciences (NASDAQ:JBIO) Sets New 1-Year High - Here's What Happened

Key Points

• Jade Biosciences shares reached a new 52-week high of $28.23 (last trade $26.565), while the stock’s 50- and 200-day moving averages are $16.37 and $14.29 and the company has a market cap of about $1.31 billion.
• Analysts have been lifting ratings and price targets—BTIG, Stifel, HC Wainwright and William Blair among them—with a consensus rating of Moderate Buy and an average target of $31.17 (top targets as high as $45).
• The company reported a quarterly EPS beat (‑$0.11 vs. est. ‑$0.45) but remains unprofitable with a negative PE and a projected FY EPS of ‑2.21, while institutional investors like Aberdeen, Two Sigma and MetLife have added or increased positions.

Jade Biosciences, Inc. (NASDAQ:JBIO - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $28.23 and last traded at $26.5650, with a volume of 1856 shares traded. The stock had previously closed at $26.85.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BTIG Research upped their target price on shares of Jade Biosciences from $28.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, March 16th. Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a report on Friday, March 6th. Weiss Ratings raised Jade Biosciences from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday. William Blair upgraded Jade Biosciences to a "strong-buy" rating in a report on Monday, March 9th. Finally, HC Wainwright lifted their target price on Jade Biosciences from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Monday. Two equities 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.17.

Jade Biosciences Price Performance

The company's fifty day moving average price is $16.37 and its 200 day moving average price is $14.29. The company has a market cap of $1.31 billion, a PE ratio of -5.78 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.34. On average, analysts forecast that Jade Biosciences, Inc. will post -2.21 EPS for the current year.

Hedge Funds Weigh In On Jade Biosciences

Several institutional investors have recently modified their holdings of the business. Aberdeen Group plc purchased a new position in Jade Biosciences in the fourth quarter worth $13,382,000. MetLife Investment Management LLC increased its position in shares of Jade Biosciences by 96.2% during the 4th quarter. MetLife Investment Management LLC now owns 26,069 shares of the company's stock valued at $402,000 after purchasing an additional 12,785 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Jade Biosciences during the 4th quarter worth $324,000. Virtus Investment Advisers LLC bought a new stake in shares of Jade Biosciences during the 4th quarter worth $274,000. Finally, Two Sigma Investments LP purchased a new position in shares of Jade Biosciences in the 3rd quarter worth about $212,000.

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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