Jounce Therapeutics (JNCE) Stock Price Up 20.8%

Shares of Jounce Therapeutics Inc (NASDAQ:JNCE) rose 20.8% during mid-day trading on Thursday . The company traded as high as $4.98 and last traded at $4.88. Approximately 624,613 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 466,050 shares. The stock had previously closed at $4.04.

JNCE has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Jounce Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Raymond James reduced their price target on shares of Jounce Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, October 23rd. ValuEngine upgraded shares of 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 shares of Jounce Therapeutics from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Finally, Cowen reiterated a “hold” rating on shares of Jounce Therapeutics in a report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.92.

Jounce Therapeutics (NASDAQ:JNCE) last announced its quarterly earnings results on Friday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.23. Jounce Therapeutics had a negative net margin of 50.54% and a negative return on equity of 23.27%. The company had revenue of $19.38 million for the quarter, compared to the consensus estimate of $12.47 million. Research analysts anticipate that Jounce Therapeutics Inc will post -1.26 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Jounce Therapeutics by 20.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 47,951 shares of the company’s stock worth $368,000 after buying an additional 8,103 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Jounce Therapeutics by 22.5% in the 3rd quarter. Alps Advisors Inc. now owns 57,738 shares of the company’s stock worth $375,000 after buying an additional 10,600 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Jounce Therapeutics in the 1st quarter worth about $243,000. Granahan Investment Management Inc. MA increased its holdings in shares of Jounce Therapeutics by 9.1% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 131,592 shares of the company’s stock worth $1,008,000 after buying an additional 11,007 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Jounce Therapeutics in the 1st quarter worth about $313,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.

Jounce Therapeutics Company Profile (NASDAQ:JNCE)

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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