Fosun International Ltd lifted its stake in Jounce Therapeutics Inc (NASDAQ:JNCE) by 208.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,960 shares of the company’s stock after buying an additional 193,350 shares during the period. Jounce Therapeutics makes up approximately 0.4% of Fosun International Ltd’s investment portfolio, making the stock its 25th biggest position. Fosun International Ltd owned about 0.89% of Jounce Therapeutics worth $4,455,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Macquarie Group Ltd. acquired a new stake in Jounce Therapeutics in the third quarter valued at $124,000. American International Group Inc. increased its holdings in Jounce Therapeutics by 132.2% in the third quarter. American International Group Inc. now owns 9,559 shares of the company’s stock valued at $149,000 after purchasing an additional 5,442 shares during the period. Teachers Advisors LLC increased its holdings in Jounce Therapeutics by 26.4% in the second quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock valued at $158,000 after purchasing an additional 2,347 shares during the period. Ark Investment Management LLC increased its holdings in Jounce Therapeutics by 558.9% in the second quarter. Ark Investment Management LLC now owns 11,932 shares of the company’s stock valued at $167,000 after purchasing an additional 10,121 shares during the period. Finally, Nationwide Fund Advisors increased its holdings in Jounce Therapeutics by 203.3% in the second quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock valued at $168,000 after purchasing an additional 8,007 shares during the period. Institutional investors and hedge funds own 47.55% of the company’s stock.
A number of research firms have recently issued reports on JNCE. J P Morgan Chase & Co set a $28.00 price objective on shares of Jounce Therapeutics and gave the stock a “buy” rating in a research report on Monday, November 13th. Robert W. Baird reissued an “outperform” rating and set a $30.00 price objective on shares of Jounce Therapeutics in a research report on Monday, September 18th. Finally, Zacks Investment Research raised shares of Jounce Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.67.
Shares of Jounce Therapeutics Inc (NASDAQ:JNCE) opened at $12.81 on Friday. Jounce Therapeutics Inc has a one year low of $11.05 and a one year high of $29.29.
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 the Thomson Reuters’ consensus estimate of ($0.25) by $0.12. Jounce Therapeutics had a negative net margin of 2.03% and a negative return on equity of 1.39%. The company had revenue of $18.10 million during the quarter, compared to analyst estimates of $20.00 million. The company’s revenue was up 7.1% on a year-over-year basis. equities research analysts anticipate that Jounce Therapeutics Inc will post -0.86 earnings per share for the current year.
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Jounce Therapeutics 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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