Squarepoint Ops LLC boosted its holdings in shares of Jounce Therapeutics Inc (NASDAQ:JNCE) by 239.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,457 shares of the company’s stock after purchasing an additional 53,948 shares during the quarter. Squarepoint Ops LLC’s holdings in Jounce Therapeutics were worth $258,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in Jounce Therapeutics during the fourth quarter worth approximately $55,000. Rhumbline Advisers boosted its position in Jounce Therapeutics by 39.4% during the fourth quarter. Rhumbline Advisers now owns 19,151 shares of the company’s stock worth $65,000 after purchasing an additional 5,410 shares in the last quarter. Raymond James & Associates purchased a new position in Jounce Therapeutics during the fourth quarter worth approximately $71,000. Virtu Financial LLC purchased a new position in Jounce Therapeutics during the fourth quarter worth approximately $111,000. Finally, Bank of America Corp DE boosted its position in Jounce Therapeutics by 37.4% during the fourth quarter. Bank of America Corp DE now owns 35,082 shares of the company’s stock worth $118,000 after purchasing an additional 9,544 shares in the last quarter. Institutional investors own 72.65% of the company’s stock.
A number of brokerages have commented on JNCE. Zacks Investment Research cut Jounce Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of Jounce Therapeutics in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.67.
Jounce Therapeutics (NASDAQ:JNCE) last announced its earnings results on Wednesday, March 6th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Jounce Therapeutics had a negative return on equity of 25.69% and a negative net margin of 41.99%. The business had revenue of $20.10 million during the quarter, compared to analysts’ expectations of $12.86 million. On average, equities research analysts anticipate that Jounce Therapeutics Inc will post -1.2 earnings per share for the current fiscal year.
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About Jounce Therapeutics
Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company offers vopratelimab, a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors, which is in Phase I/II clinical trial for the treatment of head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, gastric cancer, and other tumor types identified through its translational science platform.
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