Zacks Investment Research upgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. They currently have $6.75 price objective on the stock.
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 several other research reports. ValuEngine lowered Jounce Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, December 17th. Cowen reaffirmed a hold rating on shares of Jounce Therapeutics in a research note on Friday, February 7th. TheStreet raised Jounce Therapeutics from a d rating to a c- rating in a research note on Wednesday, December 11th. Finally, BidaskClub lowered Jounce Therapeutics from a buy rating to a hold rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $6.75.
Shares of JNCE stock opened at $5.84 on Tuesday. The stock’s fifty day simple moving average is $7.11 and its 200 day simple moving average is $5.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 13.60 and a quick ratio of 13.60. The firm has a market cap of $189.74 million, a price-to-earnings ratio of 2.60 and a beta of 4.05. Jounce Therapeutics has a one year low of $2.79 and a one year high of $10.00.
In related news, CEO Richard /Ca/ Murray sold 7,150 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $7.78, for a total value of $55,627.00. Following the sale, the chief executive officer now owns 87,360 shares of the company’s stock, valued at approximately $679,660.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 11,274 shares of company stock worth $88,207. 44.41% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in JNCE. Barclays PLC boosted its stake in Jounce Therapeutics by 51.0% in the fourth quarter. Barclays PLC now owns 16,515 shares of the company’s stock worth $144,000 after purchasing an additional 5,578 shares in the last quarter. Northern Trust Corp boosted its stake in Jounce Therapeutics by 3.0% in the second quarter. Northern Trust Corp now owns 189,363 shares of the company’s stock worth $937,000 after purchasing an additional 5,604 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in Jounce Therapeutics by 29.0% in the fourth quarter. Alambic Investment Management L.P. now owns 29,536 shares of the company’s stock worth $258,000 after purchasing an additional 6,632 shares in the last quarter. Granahan Investment Management Inc. MA boosted its stake in Jounce Therapeutics by 5.9% in the third quarter. Granahan Investment Management Inc. MA now owns 122,912 shares of the company’s stock worth $409,000 after purchasing an additional 6,832 shares in the last quarter. Finally, UBS Group AG boosted its stake in Jounce Therapeutics by 63.4% in the fourth quarter. UBS Group AG now owns 20,395 shares of the company’s stock worth $178,000 after purchasing an additional 7,915 shares in the last quarter. 70.52% of the stock is currently owned by institutional investors and hedge funds.
Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company offers vopratelimab, a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors, which is in Phase I/II clinical trial for the treatment of head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, gastric cancer, and other tumor types identified through its translational science platform.
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