Zacks Investment Research cut shares of Jounce Therapeutics Inc (NASDAQ:JNCE) from a hold rating to a sell rating in a research report report 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, Cowen and Company restated a buy rating on shares of Jounce Therapeutics in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $28.67.
Jounce Therapeutics (JNCE) traded down 3.06% during trading on Wednesday, reaching $13.32. The company’s stock had a trading volume of 145,775 shares. The stock has a 50 day moving average price of $19.35 and a 200 day moving average price of $21.38. The stock’s market capitalization is $428.52 million. Jounce Therapeutics has a 1-year low of $12.95 and a 1-year high of $29.29.
Jounce Therapeutics (NASDAQ:JNCE) last issued its earnings results on Tuesday, May 9th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. The business had revenue of $20.30 million for the quarter, compared to analyst estimates of $19.71 million. Jounce Therapeutics had a negative return on equity of 2.90% and a net margin of 1.90%. The business’s revenue for the quarter was up 202900.0% compared to the same quarter last year. Analysts anticipate that Jounce Therapeutics will post ($0.65) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Foresite Capital Management III LLC bought a new position in shares of Jounce Therapeutics during the first quarter valued at $2,014,000. Pharmstandard International S.A. bought a new position in shares of Jounce Therapeutics during the first quarter valued at $14,559,000. Laurion Capital Management LP bought a new position in shares of Jounce Therapeutics during the first quarter valued at $880,000. TIAA CREF Investment Management LLC bought a new position in shares of Jounce Therapeutics during the first quarter valued at $229,000. Finally, FMR LLC bought a new position in shares of Jounce Therapeutics during the first quarter valued at $82,387,000. Hedge funds and other institutional investors own 39.35% of the company’s stock.
Jounce Therapeutics Company Profile
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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