Ameriprise Financial Inc. increased its holdings in Jounce Therapeutics Inc (NASDAQ:JNCE) by 45.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,243 shares of the company’s stock after buying an additional 57,335 shares during the period. Ameriprise Financial Inc. owned about 0.57% of Jounce Therapeutics worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in Jounce Therapeutics in the third quarter worth approximately $502,000. Bank of New York Mellon Corp increased its position in shares of Jounce Therapeutics by 62.0% during the third quarter. Bank of New York Mellon Corp now owns 41,422 shares of the company’s stock worth $646,000 after purchasing an additional 15,848 shares in the last quarter. Conning Inc. increased its position in shares of Jounce Therapeutics by 36.0% during the third quarter. Conning Inc. now owns 125,960 shares of the company’s stock worth $1,962,000 after purchasing an additional 33,350 shares in the last quarter. Parsons Capital Management Inc. RI acquired a new position in shares of Jounce Therapeutics during the third quarter worth $670,000. Finally, First Manhattan Co. acquired a new position in shares of Jounce Therapeutics during the third quarter worth $482,000. 47.51% of the stock is owned by institutional investors.
JNCE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $28.00 price target on Jounce Therapeutics and gave the stock a “buy” rating in a research report on Monday, November 13th. Robert W. Baird reaffirmed a “buy” rating and set a $30.00 price target on shares of Jounce Therapeutics in a research report on Friday, November 10th. Finally, Zacks Investment Research raised Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, Jounce Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $24.00.
Jounce Therapeutics (NASDAQ:JNCE) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.12. The business had revenue of $18.10 million for the quarter, compared to the consensus estimate of $20.00 million. Jounce Therapeutics had a negative return on equity of 1.39% and a negative net margin of 2.03%. Jounce Therapeutics’s revenue was up 7.1% on a year-over-year basis. research analysts predict that Jounce Therapeutics Inc will post -0.86 EPS for the current fiscal year.
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Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.
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