Jounce Therapeutics, Inc. (NASDAQ:JNCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, May 12th.
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. “
JNCE has been the topic of a number of other reports. Wells Fargo & Company started coverage on Jounce Therapeutics in a research report on Tuesday, February 21st. They issued an “outperform” rating on the stock. They noted that the move was a valuation call. Robert W. Baird assumed coverage on Jounce Therapeutics in a research report on Tuesday, February 21st. They set an “outperform” rating and a $30.00 price target on the stock. J P Morgan Chase & Co assumed coverage on Jounce Therapeutics in a research note on Tuesday, February 21st. They set an “overweight” rating and a $28.00 price objective for the company. Finally, Cowen and Company assumed coverage on Jounce Therapeutics in a research note on Tuesday, February 21st. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Jounce Therapeutics has an average rating of “Buy” and a consensus price target of $28.67.
Shares of Jounce Therapeutics (NASDAQ:JNCE) traded down 4.32% during mid-day trading on Friday, reaching $15.50. 198,646 shares of the company’s stock traded hands. Jounce Therapeutics has a 12 month low of $15.13 and a 12 month high of $29.29. The company has a 50 day moving average of $21.92 and a 200 day moving average of $21.85. The company’s market cap is $498.08 million.
Jounce Therapeutics (NASDAQ:JNCE) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.07. The company had revenue of $20.30 million for the quarter, compared to the consensus estimate of $19.71 million. The business’s revenue for the quarter was up 202900.0% on a year-over-year basis. Analysts expect that Jounce Therapeutics will post ($0.65) earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Teachers Advisors LLC purchased a new stake in shares of Jounce Therapeutics during the first quarter valued at approximately $195,000. Paloma Partners Management Co bought a new stake in Jounce Therapeutics during the first quarter valued at about $212,000. TIAA CREF Investment Management LLC bought a new stake in Jounce Therapeutics during the first quarter valued at about $229,000. Goldman Sachs Group Inc. bought a new stake in Jounce Therapeutics during the first quarter valued at about $271,000. Finally, Morgan Stanley bought a new stake in Jounce Therapeutics during the first quarter valued at about $278,000. 39.35% of the stock is owned by institutional investors.
About Jounce Therapeutics
Jounce Therapeutics, Inc is a clinical-stage immunotherapy company. The Company is engaged in developing therapies that enable the immune system to attack tumors. Through the use of its Translational Science Platform, the Company first focuses on specific cell types within tumors to prioritize targets, and then identify related biomarkers designed to match the right therapy to the right patient.
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