Zacks Investment Research upgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “
Separately, Robert W. Baird set a $35.00 target price on shares of Jounce Therapeutics and gave the stock a buy rating in a research note on Thursday, March 8th.
Jounce Therapeutics (NASDAQ:JNCE) opened at $28.40 on Wednesday. Jounce Therapeutics has a fifty-two week low of $11.05 and a fifty-two week high of $29.29.
Jounce Therapeutics (NASDAQ:JNCE) last released its quarterly earnings data on Thursday, March 8th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.25. Jounce Therapeutics had a negative net margin of 22.76% and a negative return on equity of 10.24%. The company had revenue of $13.00 million during the quarter, compared to analysts’ expectations of $14.95 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was down 36.0% on a year-over-year basis. equities analysts forecast that Jounce Therapeutics will post -1.04 earnings per share for the current fiscal year.
In other news, insider Elizabeth Trehu sold 4,545 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $25.06, for a total transaction of $113,897.70. Following the completion of the sale, the insider now owns 4,545 shares of the company’s stock, valued at $113,897.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberlee C. Drapkin sold 5,267 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $25.01, for a total transaction of $131,727.67. Following the sale, the chief financial officer now directly owns 5,267 shares of the company’s stock, valued at approximately $131,727.67. The disclosure for this sale can be found here. Insiders have sold 56,292 shares of company stock valued at $1,316,183 in the last three months.
Several hedge funds have recently added to or reduced their stakes in JNCE. Wells Fargo & Company MN increased its stake in shares of Jounce Therapeutics by 476.1% during the second quarter. Wells Fargo & Company MN now owns 20,970 shares of the company’s stock worth $294,000 after purchasing an additional 17,330 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Jounce Therapeutics during the second quarter worth about $177,000. Teachers Advisors LLC boosted its position in Jounce Therapeutics by 26.4% during the second quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock worth $158,000 after acquiring an additional 2,347 shares during the last quarter. Nationwide Fund Advisors boosted its position in Jounce Therapeutics by 203.3% during the second quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock worth $168,000 after acquiring an additional 8,007 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Jounce Therapeutics by 171.6% during the second quarter. Northern Trust Corp now owns 90,412 shares of the company’s stock worth $1,269,000 after acquiring an additional 57,120 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.
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Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.
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