Dimensional Fund Advisors LP recently announced the acquisition of new stake in Jounce Therapeutics Inc. (NASDAQ:JNCE). The institutional investor has increased its shareholding in the Healthcare company by 6.62% to 1.15 million shares with purchase of 71154.0 shares. This fresh investment now brings its stake to 3.36% valued currently at $5.25 million. In addition, BlackRock Fund Advisors raised its holdings by 11960.0 to 1.11 million shares. And Acadian Asset Management LLC has lifted its position by 1.18% or 11267.0 shares – to 0.97 million shares.
With over 43.05 million Jounce Therapeutics Inc. (JNCE) shares trading Tuesday and a closing price of $7.53 on the day, the dollar volume was approximately $324.16 million. The shares have shown a positive weekly performance of 44.81% and its price on 09/01/20 gained nearly 55.58%. Currently, there are 34.05M common shares owned by the public and among those 30.38M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for JNCE have a consensus price objective of $10.63. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $5.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Jounce Therapeutics Inc. stock is 2.30 for the next 12 months. But an upside of 49.8% will see the stock hit the forecast high price target while mean target price for the stock is $11.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 193,960 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 63,068 shares.
The top 3 mutual fund holders in Jounce Therapeutics Inc. are Vanguard Total Stock Market Index, Fidelity Select Port. – Biotechno, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 0.57 million shares of the company’s stock, all valued at over $2.61 million. iShares Russell 2000 ETF sold 17374.0 shares to bring its total holdings to over 0.37 million shares at a value of $1.7 million. iShares Russell 2000 ETF now owns shares totaling to 1.09% of the shares outstanding.
Shares of Jounce Therapeutics Inc. (NASDAQ: JNCE) opened at $7.65, up $2.81 from a prior closing price of $4.84. However, the script later closed the day at $7.53, up 55.58%. The company’s stock has a 5-day price change of 44.81% and 34.22% over the past three months. JNCE shares are trading -13.75% year to date (YTD), with the 12-month market performance up to 117.00% higher. It has a 12-month low price of $2.79 and touched a high of $10.00 over the same period. Currently, 43.05 million shares have been traded, compared to an average intraday trading volume of 218.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 56.11%, 38.78%, and 31.27% respectively.
Institutional ownership of Jounce Therapeutics Inc. (NASDAQ: JNCE) shares accounts for 76.20% of the company’s 34.05M shares outstanding. Mutual fund holders own 18.51%, while other institutional holders and individual stakeholders account for 50.84% and 16.37% respectively.
It has a market capitalization of $245.18M and a beta (3y monthly) value of 2.10. The stock’s trailing 12-month PE ratio is 12.22, while the earnings-per-share (ttm) stands at $0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.94% over the week and 8.09% over the month.
Analysts forecast that Jounce Therapeutics Inc. (JNCE) will achieve an EPS of -$0.67 for the current quarter, -$0.64 for the next quarter and -$2.62 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.84 while analysts give the company a high EPS estimate of -$0.35. Comparatively, EPS for the current quarter was $2.9 a year ago. Earnings per share for the fiscal year are expected to increase by 297.10%, and 9.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Jounce Therapeutics Inc. (JNCE) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the JNCE, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on March 25, 2020, with the firm’s price target at $11. JP Morgan coverage for the Jounce Therapeutics Inc. (JNCE) stock in a research note released on November 14, 2018 offered a Underweight rating with a price target of. Raymond James was of a view on June 28, 2018 that the stock is Outperform, while Wells Fargo gave the stock Market Perform rating on May 17, 2018, issuing a price target of. H.C. Wainwright on their part issued Buy rating on April 27, 2018.