Zacks Investment Research lowered shares of Jounce Therapeutics (NASDAQ:JNCE) from a buy rating to a hold rating in a research report released on Friday.
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. “
A number of other brokerages have also commented on JNCE. Raymond James lowered their price objective on Jounce Therapeutics from $13.00 to $12.00 and set an outperform rating on the stock in a report on Tuesday, October 23rd. HC Wainwright set a $13.00 price objective on Jounce Therapeutics and gave the company a buy rating in a report on Wednesday, November 14th. JPMorgan Chase & Co. lowered Jounce Therapeutics from a neutral rating to an underweight rating in a report on Tuesday, November 13th. Finally, Cowen reissued a hold rating on shares of Jounce Therapeutics in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $11.67.
Jounce Therapeutics (NASDAQ:JNCE) last issued its quarterly earnings data on Tuesday, November 13th. The company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.11. The business had revenue of $14.53 million for the quarter, compared to analyst estimates of $12.80 million. Jounce Therapeutics had a negative return on equity of 29.58% and a negative net margin of 59.74%. Analysts expect that Jounce Therapeutics will post -1.13 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Jounce Therapeutics in the 4th quarter valued at approximately $55,000. Rhumbline Advisers grew its holdings in Jounce Therapeutics by 39.4% in the 4th quarter. Rhumbline Advisers now owns 19,151 shares of the company’s stock valued at $65,000 after buying an additional 5,410 shares during the last quarter. Raymond James & Associates acquired a new stake in Jounce Therapeutics in the 4th quarter valued at approximately $71,000. Creative Planning acquired a new stake in Jounce Therapeutics in the 3rd quarter valued at approximately $143,000. Finally, Bank of America Corp DE grew its holdings in Jounce Therapeutics by 243.4% in the 2nd quarter. Bank of America Corp DE now owns 28,607 shares of the company’s stock valued at $219,000 after buying an additional 20,276 shares during the last quarter. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
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.
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