Jade Biosciences (NASDAQ:JBIO) Shares Down 8.3% - Should You Sell?

Key Points

• Jade Biosciences shares fell 8.3% on Friday, trading as low as $21.07 after closing at $22.48 the prior day. Trading volume was also well below average, with about 72,267 shares changing hands.
• Despite the drop, analyst sentiment remains mostly positive: recent updates included higher price targets from Wedbush, UBS, and BTIG, while the overall consensus rating is still Moderate Buy with a $47.12 average target.
• The company recently reported a wider-than-expected quarterly loss, posting EPS of -$0.57 versus the expected -$0.52. Analysts now expect Jade Biosciences to post -2.54 EPS for the current fiscal year.

Jade Biosciences, Inc. (NASDAQ:JBIO - Get Free Report)'s share price was down 8.3% on Friday . The company traded as low as $21.07 and last traded at $20.6090. Approximately 72,267 shares traded hands during trading, a decline of 89% from the average daily volume of 679,921 shares. The stock had previously closed at $22.48.

Analyst Ratings Changes

A number of research analysts recently issued reports on JBIO shares. Wedbush boosted their price objective on Jade Biosciences from $34.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, June 2nd. UBS Group assumed coverage on Jade Biosciences in a research note on Monday, June 15th. They issued a "buy" rating and a $45.00 target price on the stock. Weiss Ratings downgraded shares of Jade Biosciences from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. Wall Street Zen lowered shares of Jade Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, BTIG Research increased their price objective on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.12.

Jade Biosciences Trading Down 7.4%

The business's 50-day simple moving average is $20.85 and its 200 day simple moving average is $17.68. The company has a market capitalization of $1.03 billion, a P/E ratio of -10.32 and a beta of 1.43.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last announced its 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, sell-side analysts predict that Jade Biosciences, Inc. will post -2.54 EPS for the current fiscal year.

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 shares of Jade Biosciences in the 4th quarter worth approximately $13,382,000. Avidity Partners Management LP lifted its stake in Jade Biosciences by 24.3% during the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company's stock valued at $21,613,000 after purchasing an additional 273,522 shares during the last quarter. Baker BROS. Advisors LP acquired a new stake in Jade Biosciences during the fourth quarter valued at approximately $25,323,000. 9823 Capital L.P. bought a new stake in Jade Biosciences during the fourth quarter worth approximately $821,000. Finally, Los Angeles Capital Management LLC acquired a new position in Jade Biosciences in the fourth quarter worth approximately $333,000.

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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