Jade Biosciences (NASDAQ:JBIO) Stock Price Down 5.3% – What’s Next?

Jade Biosciences, Inc. (NASDAQ:JBIO) shares dropped 5.3% during trading on Friday . The company traded as low as $15.98 and last traded at $16.11. Approximately 45,875 shares were traded during trading, a decline of 84% from the average daily volume of 284,316 shares. The stock had previously closed at $17.02.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Guggenheim increased their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. HC Wainwright started coverage on Jade Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $25.00 target price for the company. Finally, BTIG Research started coverage on Jade Biosciences in a research report on Thursday, October 9th. They set a “buy” rating and a $28.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Jade Biosciences Trading Down 4.2%

The firm has a market capitalization of $804.25 million, a P/E ratio of -1.46 and a beta of 1.02. The business’s fifty day moving average is $14.26 and its 200 day moving average is $10.52.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.09.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. acquired a new position in shares of Jade Biosciences in the 2nd quarter valued at $17,703,000. Versant Venture Management LLC purchased a new stake in Jade Biosciences during the second quarter valued at about $15,243,000. Aberdeen Group plc acquired a new position in shares of Jade Biosciences in the fourth quarter worth about $13,382,000. Soleus Capital Management L.P. purchased a new position in shares of Jade Biosciences in the second quarter worth approximately $7,959,000. Finally, Geode Capital Management LLC purchased a new position in shares of Jade Biosciences in the second quarter worth approximately $6,759,000.

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.