Wall Street brokerages forecast that Jounce Therapeutics (NASDAQ:JNCE) will post $13.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Jounce Therapeutics’ earnings, with the highest sales estimate coming in at $14.00 million and the lowest estimate coming in at $12.99 million. Jounce Therapeutics reported sales of $20.89 million in the same quarter last year, which indicates a negative year-over-year growth rate of 35.4%. The business is expected to announce its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Jounce Therapeutics will report full-year sales of $13.50 million for the current financial year, with estimates ranging from $51.96 million to $103.00 million. For the next financial year, analysts anticipate that the business will report sales of $81.07 million per share, with estimates ranging from $64.20 million to $93.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Jounce Therapeutics.
Jounce Therapeutics (NASDAQ:JNCE) last issued its quarterly earnings data on Thursday, March 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.25. Jounce Therapeutics had a negative return on equity of 10.24% and a negative net margin of 22.76%. The business had revenue of $13.00 million for the quarter, compared to the consensus estimate of $14.95 million. During the same period in the prior year, the business earned $0.05 earnings per share. The business’s revenue was down 36.0% on a year-over-year basis.
Several equities analysts recently weighed in on JNCE shares. Zacks Investment Research upgraded Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, January 3rd. Robert W. Baird set a $35.00 price target on Jounce Therapeutics and gave the stock a “buy” rating in a research note on Thursday, March 8th.
In other news, CFO Kimberlee C. Drapkin sold 5,267 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $21.42, for a total value of $112,819.14. Following the completion of the sale, the chief financial officer now owns 2,775 shares in the company, valued at $59,440.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara Gayle Duncan sold 4,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $25.00, for a total value of $100,000.00. Following the completion of the sale, the director now owns 4,000 shares of the company’s stock, valued at approximately $100,000. The disclosure for this sale can be found here. Insiders have sold 58,292 shares of company stock valued at $1,372,403 over the last 90 days.
Institutional investors and hedge funds have recently modified their holdings of the stock. J. Goldman & Co LP bought a new position in Jounce Therapeutics during the 4th quarter worth approximately $638,000. Redmile Group LLC increased its position in Jounce Therapeutics by 2.6% in the 4th quarter. Redmile Group LLC now owns 980,393 shares of the company’s stock valued at $12,500,000 after acquiring an additional 24,795 shares during the period. Vident Investment Advisory LLC increased its position in Jounce Therapeutics by 37.6% in the 4th quarter. Vident Investment Advisory LLC now owns 97,466 shares of the company’s stock valued at $1,243,000 after acquiring an additional 26,628 shares during the period. Millennium Management LLC increased its position in Jounce Therapeutics by 310.4% in the 4th quarter. Millennium Management LLC now owns 246,021 shares of the company’s stock valued at $3,137,000 after acquiring an additional 186,068 shares during the period. Finally, Teachers Advisors LLC increased its position in Jounce Therapeutics by 59.3% in the 4th quarter. Teachers Advisors LLC now owns 25,542 shares of the company’s stock valued at $326,000 after acquiring an additional 9,507 shares during the period. 90.30% of the stock is owned by hedge funds and other institutional investors.
NASDAQ JNCE traded down $1.25 during trading hours on Tuesday, hitting $20.38. 172,823 shares of the company’s stock were exchanged, compared to its average volume of 351,208. Jounce Therapeutics has a 12-month low of $11.05 and a 12-month high of $29.29. The company has a market capitalization of $659.65, a PE ratio of -35.76 and a beta of 6.33.
About Jounce Therapeutics
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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