Jounce Therapeutics (NASDAQ:JNCE) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d+” rating in a report released on Tuesday.
Other research analysts have also recently issued reports about the stock. HC Wainwright set a $19.00 price objective on shares of Jounce Therapeutics and gave the stock a “buy” rating in a research note on Thursday, May 17th. 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. Zacks Investment Research raised shares of Jounce Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Wells Fargo & Co cut shares of Jounce Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $37.00 to $13.00 in a research note on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $21.80.
Shares of Jounce Therapeutics opened at $11.60 on Tuesday, according to Marketbeat.com. Jounce Therapeutics has a 1-year low of $10.20 and a 1-year high of $29.25. The company has a market cap of $351.15 million, a PE ratio of -20.35 and a beta of 6.41.
Jounce Therapeutics (NASDAQ:JNCE) last issued its quarterly earnings data on Wednesday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). Jounce Therapeutics had a negative return on equity of 19.90% and a negative net margin of 47.73%. The business had revenue of $11.20 million for the quarter, compared to analysts’ expectations of $13.33 million. research analysts predict that Jounce Therapeutics will post -1.16 earnings per share for the current year.
In other Jounce Therapeutics news, Director Barbara Gayle Duncan sold 2,000 shares of Jounce Therapeutics stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $28.11, for a total value of $56,220.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $56,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kimberlee C. Drapkin sold 5,267 shares of Jounce Therapeutics stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $21.42, for a total transaction of $112,819.14. Following the completion of the sale, the chief financial officer now directly owns 2,775 shares of the company’s stock, valued at $59,440.50. The disclosure for this sale can be found here. Insiders sold a total of 54,292 shares of company stock valued at $1,272,403 over the last ninety days. 43.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in JNCE. venBio Select Advisor LLC purchased a new stake in Jounce Therapeutics in the 1st quarter worth approximately $11,693,000. BlackRock Inc. grew its stake in Jounce Therapeutics by 60.1% in the 4th quarter. BlackRock Inc. now owns 1,161,840 shares of the company’s stock worth $14,812,000 after acquiring an additional 436,114 shares during the period. Citadel Advisors LLC acquired a new position in shares of Jounce Therapeutics in the 1st quarter valued at $6,539,000. Redmile Group LLC boosted its holdings in shares of Jounce Therapeutics by 20.6% in the 1st quarter. Redmile Group LLC now owns 1,182,393 shares of the company’s stock valued at $26,426,000 after purchasing an additional 202,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Jounce Therapeutics by 310.4% in the 4th quarter. Millennium Management LLC now owns 246,021 shares of the company’s stock valued at $3,137,000 after purchasing an additional 186,068 shares during the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.
Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, 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 solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.
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