Zacks Investment Research cut shares of Jounce Therapeutics (NASDAQ:JNCE) from a buy rating to a hold rating in a report issued on Wednesday.
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 subject of several other research 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 reissued a buy rating and issued a $30.00 target price on shares of Jounce Therapeutics in a research report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $24.00.
Jounce Therapeutics (NASDAQ:JNCE) last posted its quarterly earnings results on Monday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.12. The firm had revenue of $18.10 million during the quarter, compared to analyst estimates of $20.00 million. Jounce Therapeutics had a negative return on equity of 1.39% and a negative net margin of 2.03%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. analysts predict that Jounce Therapeutics will post -0.86 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of JNCE. Macquarie Group Ltd. purchased a new position in Jounce Therapeutics in the 3rd quarter worth about $124,000. American International Group Inc. raised its position in Jounce Therapeutics by 132.2% in the 3rd quarter. American International Group Inc. now owns 9,559 shares of the company’s stock worth $149,000 after buying an additional 5,442 shares during the last quarter. Teachers Advisors LLC raised its position in Jounce Therapeutics by 26.4% in the 2nd quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock worth $158,000 after buying an additional 2,347 shares during the last quarter. Ark Investment Management LLC raised its position in Jounce Therapeutics by 558.9% in the 2nd quarter. Ark Investment Management LLC now owns 11,932 shares of the company’s stock worth $167,000 after buying an additional 10,121 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in Jounce Therapeutics by 203.3% in the 2nd quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock worth $168,000 after buying an additional 8,007 shares during the last quarter. 47.51% of the stock is owned by institutional investors and hedge funds.
About Jounce Therapeutics
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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