9823 Capital L.P. Takes $821,000 Position in Jade Biosciences, Inc. $JBIO

9823 Capital L.P. purchased a new stake in Jade Biosciences, Inc. (NASDAQ:JBIO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,191 shares of the company’s stock, valued at approximately $821,000. Jade Biosciences accounts for about 0.6% of 9823 Capital L.P.’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 shares during the period. Legal & General Group Plc bought a new stake in shares of Jade Biosciences in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences in the second quarter valued at approximately $31,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences in the second quarter valued at approximately $32,000. Finally, Group One Trading LLC raised its position in shares of Jade Biosciences by 122.9% in the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock valued at $65,000 after purchasing an additional 22,527 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on JBIO shares. UBS Group started coverage on shares of Jade Biosciences in a report on Monday. They set a “buy” rating and a $45.00 target price on the stock. BTIG Research upped their target price 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. William Blair raised shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Wedbush upped their target price on shares of Jade Biosciences from $34.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, HC Wainwright upped their target price on shares of Jade Biosciences from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.13.

Jade Biosciences Price Performance

JBIO stock opened at $16.87 on Thursday. Jade Biosciences, Inc. has a one year low of $6.67 and a one year high of $28.00. The stock has a market cap of $832.70 million, a PE ratio of -8.35 and a beta of 1.44. The firm has a 50 day simple moving average of $21.01 and a two-hundred day simple moving average of $16.88.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, research analysts expect that Jade Biosciences, Inc. will post -2.54 EPS for the current fiscal year.

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.