Tang Capital Management LLC has recently announced that it has increased stake in Jounce Therapeutics Inc. (NASDAQ:JNCE) by 2.97%. After grabbing 5.0 million shares, the institutional investor is now in possession of 0.14 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.67% having worth around $5.6 million. Moreover, BofA Securities, Inc. increased its share by 27055.0 to have a control over 3.27 million shares. And Merrill Lynch International raised its holdings to 3.27 million shares by acquiring 3.27 million shares or 6.33% of the stake.
Jounce Therapeutics Inc. (JNCE) concluded trading on 03/16/23 at a closing price of $1.56, with 4.37 million shares of worth about $6.81 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -51.40% during that period and on Thursday the price saw a gain of about 4.70%. Currently the company’s common shares owned by public are about 51.69M shares, out of which, 41.32M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the JNCE stock and their offered price forecasts bring an average price target of $3.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $1.00. The stock’s current price level is 53.15% above of average price target set by the analysts, while a rise to estimated low would result in loss of -56.0% for the stock. However, touching the estimated high of $5.00 would mean a gain of 68.8% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 9 times over the past 12 months. They bought 20,000 shares in 1 of the transactions. In 8 selling transactions, insiders dumped 85,085 shares.
Biotech Growth Trust Plc, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Jounce Therapeutics Inc. Biotech Growth Trust Plc is currently holding 1.69 million shares of worth totaling $1.9 million. The company recently came buying 5082.0 shares which brought its stake up to 3.27% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 0.88 million shares, have now control over 1.70% of the stake in the company. It holds 2772.0 shares of worth $0.98 million.
Jounce Therapeutics Inc. (NASDAQ: JNCE) started trading at $1.43, below -$0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 1.6200, or with a gain of 4.70%. Stock saw a price change of 62.75% in past 5 days and over the past one month there was a price change of 39.29%. Year-to-date (YTD), JNCE shares are showing a performance of 40.54% which decreased to -77.36% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.58 but also hit the highest price of $7.94 during that period. The average intraday trading volume for Jounce Therapeutics Inc. shares is 2.97 million. The stock is currently trading 42.57% above its 20-day simple moving average (SMA20), while that difference is up 37.73% for SMA50 and it goes to -30.49% lower than SMA200.
Tang Capital Management LLC acquired 5.0 million shares of Jounce Therapeutics Inc. having value of about $5.6 million. Data submitted at the U.S SEC by Tang Capital Management LLC revealed that the firm now holds 0.14 million shares in the company valued at close to $224791.32, or have control over 2.97% stake in the company. Jounce Therapeutics Inc. (NASDAQ: JNCE) currently have 51.69M outstanding shares and institutions hold larger chunk of about 82.50% of that. Holding of mutual funds in the company is about 17.21% while other institutional holders and individual stake holders have control over 65.88% and 15.39% of the stake respectively.
The stock has a current market capitalization of $85.80M and its 3Y-monthly beta is at 0.67. It has posted earnings per share of -$2.56 in the same period. It has Quick Ratio of 8.40 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for JNCE, volatility over the week remained 12.80% while standing at 11.82% over the month.
Analysts are in expectations that Jounce Therapeutics Inc. (JNCE) stock would likely to be making an EPS of -$0.19 in the current quarter, while forecast for next quarter EPS is -$0.6 and it is -$2.19 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.56 which is $0.95 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.59 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.10% while it is estimated to decrease by -6.40% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Jounce Therapeutics Inc. (JNCE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Robert W. Baird on May 11, 2022 offering a Neutral rating for the stock and assigned a target price range of between $15 and $7 to it. Coverage by Raymond James stated Jounce Therapeutics Inc. (JNCE) stock as a Strong buy in their note to investors on May 06, 2022, suggesting a price target of $20 for the stock. Stock get an Outperform rating from Raymond James on September 14, 2021.
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