Zacks Investment Research Lowers Jounce Therapeutics (JNCE) to Hold

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Zacks Investment Research cut shares of Jounce Therapeutics (NASDAQ:JNCE) from a buy rating to a hold rating in a report issued on Wednesday morning.

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 upgraded Jounce Therapeutics from a sell rating to a hold rating in a report on Thursday, August 2nd. JPMorgan Chase & Co. reduced their price target on Jounce Therapeutics from $12.00 to $10.00 and set a hold rating on the stock in a report on Friday, August 10th. Raymond James started coverage on Jounce Therapeutics in a report on Thursday, June 28th. They set an outperform rating and a $13.00 price target on the stock. HC Wainwright set a $13.00 price target on Jounce Therapeutics and gave the stock a buy rating in a report on Monday, August 13th. Finally, Cowen reiterated a hold rating on shares of Jounce Therapeutics in a report on Thursday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $12.54.

Shares of NASDAQ JNCE traded down $0.07 during trading on Wednesday, hitting $5.89. 201,519 shares of the company were exchanged, compared to its average volume of 474,926. Jounce Therapeutics has a 12-month low of $5.83 and a 12-month high of $29.25. The firm has a market cap of $212.08 million, a PE ratio of -10.33 and a beta of 5.34.

Jounce Therapeutics (NASDAQ:JNCE) last posted its quarterly earnings results on Friday, August 10th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.23. Jounce Therapeutics had a negative return on equity of 23.27% and a negative net margin of 50.54%. The business had revenue of $19.38 million for the quarter, compared to analyst estimates of $12.47 million. As a group, equities research analysts expect that Jounce Therapeutics will post -1.26 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of JNCE. Millennium Management LLC raised its holdings in Jounce Therapeutics by 91.6% in the 2nd quarter. Millennium Management LLC now owns 679,177 shares of the company’s stock valued at $5,202,000 after buying an additional 324,681 shares during the period. BlackRock Inc. raised its holdings in Jounce Therapeutics by 22.2% in the 2nd quarter. BlackRock Inc. now owns 1,394,905 shares of the company’s stock valued at $10,684,000 after buying an additional 253,120 shares during the period. Dimensional Fund Advisors LP raised its holdings in Jounce Therapeutics by 186.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 314,831 shares of the company’s stock valued at $2,412,000 after buying an additional 204,762 shares during the period. Redmile Group LLC raised its holdings in Jounce Therapeutics by 20.6% in the 1st quarter. Redmile Group LLC now owns 1,182,393 shares of the company’s stock valued at $26,426,000 after buying an additional 202,000 shares during the period. Finally, Spark Investment Management LLC raised its holdings in Jounce Therapeutics by 257.1% in the 2nd quarter. Spark Investment Management LLC now owns 215,700 shares of the company’s stock valued at $1,652,000 after buying an additional 155,300 shares during the period. Hedge funds and other institutional investors own 84.11% of the company’s stock.

Jounce Therapeutics Company Profile

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.

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