Zacks Investment Research lowered shares of Jounce Therapeutics, Inc. (NASDAQ:JNCE) from a hold rating to a sell rating in a report issued on Wednesday, July 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. “
Separately, Cowen and Company reissued a buy rating on shares of Jounce Therapeutics in a report on Thursday, April 20th. Five equities research analysts have rated the stock with a buy rating, Jounce Therapeutics presently has an average rating of Buy and an average target price of $23.67.
Shares of Jounce Therapeutics (NASDAQ:JNCE) opened at 11.71 on Wednesday. Jounce Therapeutics has a 52-week low of $11.05 and a 52-week high of $29.29. The firm has a market cap of $376.29 million and a PE ratio of 433.70. The stock has a 50 day moving average price of $13.58 and a 200-day moving average price of $19.58.
Jounce Therapeutics (NASDAQ:JNCE) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.04. The firm had revenue of $20.29 million for the quarter, compared to analyst estimates of $19.94 million. During the same quarter in the prior year, the firm earned ($7.23) EPS. On average, equities analysts anticipate that Jounce Therapeutics will post ($0.62) EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foresite Capital Management III LLC acquired a new position in shares of Jounce Therapeutics during the first quarter valued at about $2,014,000. Pharmstandard International S.A. acquired a new position in shares of Jounce Therapeutics during the first quarter valued at about $14,559,000. Laurion Capital Management LP purchased a new position in Jounce Therapeutics during the first quarter valued at $880,000. TIAA CREF Investment Management LLC purchased a new position in Jounce Therapeutics during the first quarter valued at $229,000. Finally, FMR LLC purchased a new position in Jounce Therapeutics during the first quarter valued at $82,387,000. 40.19% of the stock is currently 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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