Jounce Therapeutics (NASDAQ:JNCE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, March 14th.
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 report on Thursday, March 8th.
Jounce Therapeutics (NASDAQ JNCE) traded down $0.16 during mid-day trading on Wednesday, hitting $25.39. 45,693 shares of the stock were exchanged, compared to its average volume of 346,717. Jounce Therapeutics has a twelve month low of $11.05 and a twelve month high of $29.29. The firm has a market capitalization of $853.19, a price-to-earnings ratio of -45.84 and a beta of 8.00.
Jounce Therapeutics (NASDAQ:JNCE) last announced its quarterly earnings data on Thursday, March 8th. The company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $13.00 million for the quarter, compared to the consensus estimate of $14.95 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was down 36.0% on a year-over-year basis. equities research analysts predict that Jounce Therapeutics will post -1.04 EPS for the current fiscal year.
In other news, CFO Kimberlee C. Drapkin sold 5,267 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $21.42, for a total value of $112,819.14. Following the completion of the transaction, the chief financial officer now owns 2,775 shares in the company, valued at approximately $59,440.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Barbara Gayle Duncan sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $28.11, for a total transaction of $56,220.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at approximately $56,220. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,292 shares of company stock valued at $1,372,403.
Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Jounce Therapeutics by 476.1% during the 2nd quarter. Wells Fargo & Company MN now owns 20,970 shares of the company’s stock worth $294,000 after acquiring an additional 17,330 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Jounce Therapeutics in the 2nd quarter valued at about $177,000. Teachers Advisors LLC boosted its stake in shares of Jounce Therapeutics by 26.4% in the 2nd quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock valued at $158,000 after purchasing an additional 2,347 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Jounce Therapeutics by 203.3% in the 2nd quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock valued at $168,000 after purchasing an additional 8,007 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Jounce Therapeutics by 171.6% in the 2nd quarter. Northern Trust Corp now owns 90,412 shares of the company’s stock valued at $1,269,000 after purchasing an additional 57,120 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.
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About Jounce Therapeutics
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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