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Jounce Therapeutics Inc (NASDAQ:JNCE) Short Interest Down 38.3% in September

Last updated on Tuesday, September 29, 2020 | 2020 MarketBeat

Jounce Therapeutics Inc (NASDAQ:JNCE) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,320,000 shares, a decrease of 38.3% from the August 31st total of 2,140,000 shares. Currently, 8.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 1.1 days.

In related news, Director Barbara Gayle Duncan sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $100,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberlee C. Drapkin sold 7,200 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.06, for a total transaction of $58,032.00. Following the transaction, the chief financial officer now directly owns 61,708 shares in the company, valued at $497,366.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,110 shares of company stock valued at $176,378. 43.96% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Jounce Therapeutics by 0.4% during the 1st quarter. BlackRock Inc. now owns 1,242,866 shares of the company's stock worth $5,903,000 after acquiring an additional 4,789 shares during the period. AQR Capital Management LLC acquired a new position in Jounce Therapeutics in the 1st quarter valued at $2,957,000. State Street Corp raised its holdings in Jounce Therapeutics by 2.5% in the 1st quarter. State Street Corp now owns 418,772 shares of the company's stock valued at $1,989,000 after acquiring an additional 10,081 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Jounce Therapeutics by 22.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 284,319 shares of the company's stock valued at $1,962,000 after acquiring an additional 51,234 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Jounce Therapeutics in the 1st quarter valued at $1,344,000. Institutional investors own 74.08% of the company's stock.

Jounce Therapeutics stock traded down $0.13 during midday trading on Tuesday, reaching $8.03. The stock had a trading volume of 2,011 shares, compared to its average volume of 645,389. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.04 and a current ratio of 8.04. The firm's fifty day simple moving average is $6.69 and its 200-day simple moving average is $5.58. The stock has a market capitalization of $278.00 million, a P/E ratio of 13.16 and a beta of 2.11. Jounce Therapeutics has a 1-year low of $2.79 and a 1-year high of $11.72.

Jounce Therapeutics (NASDAQ:JNCE) last issued its earnings results on Friday, August 7th. The company reported ($0.82) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.72) by ($0.10). On average, sell-side analysts anticipate that Jounce Therapeutics will post -2.99 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on JNCE. BidaskClub raised shares of Jounce Therapeutics from a "strong sell" rating to a "sell" rating in a report on Friday, September 11th. ValuEngine raised shares of Jounce Therapeutics from a "hold" rating to a "buy" rating in a report on Tuesday, September 1st. Zacks Investment Research lowered shares of Jounce Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, August 13th. HC Wainwright upped their target price on shares of Jounce Therapeutics from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Finally, Raymond James reiterated a "buy" rating and set a $12.00 target price on shares of Jounce Therapeutics in a report on Wednesday, September 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of "Hold" and a consensus target price of $13.75.

About Jounce Therapeutics

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company offers vopratelimab, a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors, which is in Phase I/II clinical trial for the treatment of head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, gastric cancer, and other tumor types identified through its translational science platform.

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