Jounce Therapeutics (JNCE) Downgraded by Zacks Investment Research to “Hold”

Jounce Therapeutics (NASDAQ:JNCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is 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 a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “

JNCE has been the topic of several other research reports. ValuEngine raised shares of Jounce Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Jounce Therapeutics from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Robert W. Baird lowered their price target on shares of Jounce Therapeutics from $35.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, June 4th. Wells Fargo & Co lowered their price target on shares of Jounce Therapeutics to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 31st. Finally, TheStreet lowered shares of Jounce Therapeutics from a “c-” rating to a “d+” rating in a report on Tuesday, May 22nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.54.

NASDAQ:JNCE opened at $7.52 on Wednesday. The firm has a market cap of $273.09 million, a P/E ratio of -13.19 and a beta of 5.17. Jounce Therapeutics has a one year low of $6.56 and a one year high of $29.25.

Jounce Therapeutics (NASDAQ:JNCE) last released its earnings results on Friday, August 10th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.23. The firm had revenue of $19.38 million during the quarter, compared to analysts’ expectations of $12.47 million. Jounce Therapeutics had a negative net margin of 50.54% and a negative return on equity of 23.27%. equities analysts predict that Jounce Therapeutics will post -1.48 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of JNCE. venBio Select Advisor LLC bought a new stake in shares of Jounce Therapeutics in the 1st quarter worth about $11,693,000. BlackRock Inc. grew its holdings in shares of Jounce Therapeutics by 60.1% in the 4th quarter. BlackRock Inc. now owns 1,161,840 shares of the company’s stock worth $14,812,000 after purchasing an additional 436,114 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Jounce Therapeutics by 91.6% in the 2nd quarter. Millennium Management LLC now owns 679,177 shares of the company’s stock worth $5,202,000 after purchasing an additional 324,681 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Jounce Therapeutics in the 1st quarter worth about $6,539,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Jounce Therapeutics by 186.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 314,831 shares of the company’s stock worth $2,412,000 after purchasing an additional 204,762 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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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