Jounce Therapeutics Inc (NASDAQ:JNCE) was up 10.3% during mid-day trading on Thursday . The stock traded as high as $9.06 and last traded at $9.00. Approximately 719,678 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 643,281 shares. The stock had previously closed at $8.16.
A number of research analysts have recently commented on JNCE shares. Zacks Investment Research cut Jounce Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Jounce Therapeutics in a research report on Friday, August 21st. Raymond James reiterated a “buy” rating and set a $12.00 target price on shares of Jounce Therapeutics in a research report on Wednesday, September 2nd. Roth Capital initiated coverage on shares of Jounce Therapeutics in a research note on Friday, September 18th. They set a “buy” rating and a $28.00 target price for the company. Finally, ValuEngine raised shares of Jounce Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, September 1st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.75.
The company has a current ratio of 8.04, a quick ratio of 8.04 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $5.62. The stock has a market cap of $306.61 million, a PE ratio of 13.98 and a beta of 2.11.
In related news, CFO Kimberlee C. Drapkin sold 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.06, for a total transaction of $58,032.00. Following the completion of the transaction, the chief financial officer now owns 61,708 shares in the company, valued at approximately $497,366.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Barbara Gayle Duncan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $100,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,110 shares of company stock valued at $176,378. Corporate insiders own 43.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of Jounce Therapeutics during the 1st quarter valued at $1,344,000. State Street Corp raised its stake in Jounce Therapeutics by 2.5% in the first quarter. State Street Corp now owns 418,772 shares of the company’s stock valued at $1,989,000 after buying an additional 10,081 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Jounce Therapeutics in the second quarter worth about $122,000. Rhumbline Advisers boosted its holdings in Jounce Therapeutics by 9.6% in the first quarter. Rhumbline Advisers now owns 27,735 shares of the company’s stock worth $132,000 after acquiring an additional 2,430 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Jounce Therapeutics by 17.2% during the first quarter. Nuveen Asset Management LLC now owns 68,036 shares of the company’s stock worth $323,000 after acquiring an additional 9,961 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.
About Jounce Therapeutics (NASDAQ:JNCE)
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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