Jounce Therapeutics (JNCE) Cut to “D+” at TheStreet

Jounce Therapeutics (NASDAQ:JNCE) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d+” rating in a report issued on Tuesday.

A number of other analysts also recently weighed in on JNCE. Zacks Investment Research downgraded Jounce Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Robert W. Baird set a $35.00 target price on Jounce Therapeutics and gave the company a “buy” rating in a research report on Thursday, March 8th. HC Wainwright started coverage on Jounce Therapeutics in a research report on Friday, April 27th. They set a “buy” rating and a $33.00 target price for the company. Finally, Wells Fargo & Co downgraded Jounce Therapeutics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $37.00 to $13.00 in a research report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.80.

Jounce Therapeutics opened at $11.60 on Tuesday, Marketbeat.com reports. The company has a market cap of $351.15 million, a P/E ratio of -20.35 and a beta of 6.41. Jounce Therapeutics has a 1-year low of $10.20 and a 1-year high of $29.25.

Jounce Therapeutics (NASDAQ:JNCE) last released its earnings results on Wednesday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.09). The company had revenue of $11.20 million for the quarter, compared to the consensus estimate of $13.33 million. Jounce Therapeutics had a negative net margin of 47.73% and a negative return on equity of 19.90%. analysts anticipate that Jounce Therapeutics will post -1.16 earnings per share for the current fiscal year.

In related news, Director Barbara Gayle Duncan sold 2,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $28.11, for a total transaction of $56,220.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at approximately $56,220. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Elizabeth Trehu sold 4,545 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $21.50, for a total value of $97,717.50. Following the sale, the insider now owns 4,545 shares of the company’s stock, valued at $97,717.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,292 shares of company stock valued at $1,272,403. 43.97% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Redmile Group LLC lifted its position in shares of Jounce Therapeutics by 20.6% during the 1st quarter. Redmile Group LLC now owns 1,182,393 shares of the company’s stock worth $26,426,000 after buying an additional 202,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of Jounce Therapeutics by 60.1% during the 4th quarter. BlackRock Inc. now owns 1,161,840 shares of the company’s stock worth $14,812,000 after buying an additional 436,114 shares during the last quarter. venBio Select Advisor LLC bought a new stake in shares of Jounce Therapeutics during the 1st quarter worth $11,693,000. Brown Advisory Inc. lifted its position in shares of Jounce Therapeutics by 3.3% during the 4th quarter. Brown Advisory Inc. now owns 491,529 shares of the company’s stock worth $6,267,000 after buying an additional 15,810 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in Jounce Therapeutics in the first quarter valued at about $6,539,000. Institutional investors and hedge funds own 91.15% of the company’s stock.

About Jounce Therapeutics

Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, 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 solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.

Analyst Recommendations for Jounce Therapeutics (NASDAQ:JNCE)

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