Jade Biosciences (NASDAQ:JBIO) Stock Price Down 9.6% - Here's What Happened

Key Points

• Shares fell 9.6% on Wednesday to about $23.90 (from a $26.45 close), with roughly 390,435 shares traded—about 12% below the stock's average daily volume.
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy" and an average target of $31.17; notable upgrades include HC Wainwright raising its target to $45 and William Blair assigning a "strong-buy".
• Large institutions have been accumulating shares (notably RA Capital, Baker Bros., and Marshall Wace), while the company—market cap ~$1.16B—reported a quarterly EPS beat (−$0.11 vs. −$0.45 est.) despite a negative P/E.

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO - Get Free Report) were down 9.6% during trading on Wednesday . The company traded as low as $24.28 and last traded at $23.9020. Approximately 390,435 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 443,969 shares. The stock had previously closed at $26.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. William Blair upgraded shares of Jade Biosciences to a "strong-buy" rating in a research note on Monday, March 9th. Weiss Ratings upgraded shares of Jade Biosciences from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday. HC Wainwright increased their price objective on shares of Jade Biosciences from $35.00 to $45.00 and gave the company a "buy" rating in a research note on Monday. Wedbush restated an "outperform" rating and issued a $24.00 target price on shares of Jade Biosciences in a research report on Monday, March 9th. Finally, Zacks Research raised shares of Jade Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.17.

Jade Biosciences Price Performance

The company has a market capitalization of $1.16 billion, a P/E ratio of -5.08 and a beta of 1.03. The company has a fifty day moving average price of $16.63 and a two-hundred day moving average price of $14.41.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last issued its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.34. As a group, sell-side analysts forecast that Jade Biosciences, Inc. will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Jade Biosciences

Several large investors have recently modified their holdings of JBIO. RA Capital Management L.P. grew its stake in shares of Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company's stock worth $56,645,000 after purchasing an additional 2,608,757 shares during the last quarter. Baker BROS. Advisors LP bought a new position in Jade Biosciences during the 4th quarter worth $25,323,000. Remedium Capital Partners LLC acquired a new position in Jade Biosciences during the 4th quarter worth about $24,345,000. Avidity Partners Management LP lifted its holdings in Jade Biosciences by 24.3% during the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company's stock worth $21,613,000 after buying an additional 273,522 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Jade Biosciences by 2,198.5% in the 4th quarter. Marshall Wace LLP now owns 875,273 shares of the company's stock valued at $13,505,000 after buying an additional 837,193 shares during the last quarter.

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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