Jounce Therapeutics Target of Unusually Large Options Trading (NASDAQ:JNCE)

Jounce Therapeutics Inc (NASDAQ:JNCE) was the recipient of some unusual options trading on Monday. Stock traders purchased 966 call options on the company. This is an increase of approximately 1,656% compared to the average daily volume of 55 call options.

Several hedge funds have recently modified their holdings of JNCE. Vanguard Group Inc. boosted its position in Jounce Therapeutics by 30.8% during the second quarter. Vanguard Group Inc. now owns 800,150 shares of the company’s stock worth $3,961,000 after purchasing an additional 188,540 shares during the period. Millennium Management LLC bought a new stake in shares of Jounce Therapeutics during the 3rd quarter worth $528,000. Essex Investment Management Co. LLC bought a new stake in shares of Jounce Therapeutics during the 3rd quarter worth $360,000. Strs Ohio acquired a new position in Jounce Therapeutics in the 2nd quarter valued at $470,000. Finally, Acadian Asset Management LLC grew its stake in Jounce Therapeutics by 29.0% in the 2nd quarter. Acadian Asset Management LLC now owns 376,090 shares of the company’s stock valued at $1,862,000 after buying an additional 84,557 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on JNCE. Zacks Investment Research raised Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Saturday, November 9th. Cowen reiterated a “hold” rating on shares of Jounce Therapeutics in a report on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Jounce Therapeutics in a research note on Sunday, August 11th. Finally, ValuEngine downgraded Jounce Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th.

Jounce Therapeutics stock opened at $6.52 on Tuesday. The company has a current ratio of 13.60, a quick ratio of 13.60 and a debt-to-equity ratio of 0.09. Jounce Therapeutics has a 1-year low of $2.66 and a 1-year high of $7.35. The firm’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $4.20. The company has a market capitalization of $179.77 million, a P/E ratio of -7.76 and a beta of 3.73.

Jounce Therapeutics (NASDAQ:JNCE) last posted its earnings results on Thursday, November 7th. The company reported $2.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.66. Jounce Therapeutics had a net margin of 46.11% and a return on equity of 64.54%. The firm had revenue of $119.45 million for the quarter, compared to the consensus estimate of $99.97 million. On average, equities research analysts predict that Jounce Therapeutics will post 1.92 earnings per share for the current year.

Jounce Therapeutics Company Profile

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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