Jounce Therapeutics (NASDAQ:JNCE)’s share price shot up 7.3% during mid-day trading on Wednesday . The company traded as high as $11.68 and last traded at $11.60. 937,033 shares changed hands during trading, an increase of 102% from the average session volume of 464,432 shares. The stock had previously closed at $10.81.
A number of brokerages have issued reports on JNCE. Zacks Investment Research raised Jounce Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Robert W. Baird set a $35.00 price target on Jounce Therapeutics and gave the company a “buy” rating in a research note on Thursday, March 8th. HC Wainwright began coverage on Jounce Therapeutics in a research note on Friday, April 27th. They set a “buy” rating and a $33.00 price objective for the company. Wells Fargo & Co lowered Jounce Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $37.00 to $13.00 in a research note on Thursday, May 17th. Finally, TheStreet lowered Jounce Therapeutics from a “c-” rating to a “d+” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $21.80.
The company has a market capitalization of $376.81 million, a price-to-earnings ratio of -19.51 and a beta of 6.41.
Jounce Therapeutics (NASDAQ:JNCE) last released its quarterly earnings data on Wednesday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.09). The company had revenue of $11.20 million for the quarter, compared to the consensus estimate of $13.33 million. Jounce Therapeutics had a negative return on equity of 19.90% and a negative net margin of 47.73%. analysts anticipate that Jounce Therapeutics will post -1.16 EPS for the current fiscal year.
In other news, Director Barbara Gayle Duncan sold 2,000 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $28.11, for a total value of $56,220.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at $56,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard /Ca/ Murray sold 16,334 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $21.43, for a total value of $350,037.62. Following the completion of the sale, the chief executive officer now owns 16,334 shares of the company’s stock, valued at approximately $350,037.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,292 shares of company stock valued at $1,272,403. Corporate insiders own 43.97% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Jounce Therapeutics by 101.7% in the 4th quarter. Wells Fargo & Company MN now owns 41,908 shares of the company’s stock valued at $534,000 after acquiring an additional 21,127 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Jounce Therapeutics by 71.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 41,437 shares of the company’s stock worth $646,000 after buying an additional 17,218 shares during the period. First Manhattan Co. raised its stake in shares of Jounce Therapeutics by 151.6% during the 4th quarter. First Manhattan Co. now owns 78,000 shares of the company’s stock worth $994,000 after buying an additional 47,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Jounce Therapeutics during the 4th quarter worth approximately $294,000. Finally, Vident Investment Advisory LLC raised its stake in shares of Jounce Therapeutics by 37.6% during the 4th quarter. Vident Investment Advisory LLC now owns 97,466 shares of the company’s stock worth $1,243,000 after buying an additional 26,628 shares during the period. Institutional investors own 91.15% of the company’s stock.
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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