Jade Biosciences (JBIO)
Developing antibody therapies for IgA nephropathy and systemic autoimmune diseases.
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Develops clinical-stage antibody programs for autoimmune diseases, led by JADE101 in IgA nephropathy. The business has one R&D segment, no commercial product portfolio, and depends on licensed Paragon-originated assets, outsourced manufacturing and services, and clinical execution.
Develops biologic therapies for autoimmune disease through JADE101, JADE201, and JADE301. JADE101 targets APRIL for IgA nephropathy, JADE201 targets BAFF-R for systemic autoimmune diseases, and JADE301 remains an undisclosed antibody program.
Operates from Waltham with a compact clinical and research organization rather than a commercial sales footprint. The current portfolio is pre-commercial, so operating progress is measured through trial starts, data readouts, and advancement of licensed antibody candidates.
Execution depends on Paragon-originated licenses, third-party manufacturing and service agreements, and the ability to retain scientific, medical, and leadership talent. The public issuer was formed through the Aerovate reverse merger and trades around a narrow autoimmune pipeline.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 11, 2026 | Jefferies | Reiterate | Buy | $48 | |
| Aug 10, 2026 | Wedbush | Reiterate | Outperform | $34 | $47 |
| Jun 15, 2026 | UBS | Target | $45 | ||
| Jun 2, 2026 | Piper Sandler | Target | $55 | ||
| Jun 2, 2026 | Guggenheim | Target | $32 | $47 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $461.2M · Total debt $628.0K · Total assets $472.1M · Shareholders' equity $439.9M
- Revenue
- $0
- Operating income
- −$58.9M
- Net income
- −$55.8M
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 29, 2025 | Apr 25 | $2.40 |
| Institutions158 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | ≈ 147.56% | 72.83M shares | |
| Insiders5 holders · as of Feb 13, 2026 | 1.27% | 624.6K shares | |
| Strategic holders1 holder · as of May 15, 2026 | 6.29% | 3.11M shares | |
| Adds to | 155.12% |
49.36M company shares as of Sep 3, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (49.36M in the company's Sep 3, 2026 report, 60.86M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 155.12%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
FMR LLCInstitution | 18.49% | 9.13M | 13Fas of Jun 30, 2026 |
Jupiter Topco LLCInstitution | 12.71% | 6.27M | 13Fas of Jun 30, 2026 |
Fairmount Funds Management LLCInstitution | 9.23% | 4.55M | 13Fas of Jun 30, 2026 |
Ra Capital Management, L.P.Institution | 7.44% | 3.67M | 13Fas of Jun 30, 2026 |
VR Adviser, LLCInstitution | 6.52% | 3.22M | 13Fas of Jun 30, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings
Insider tradesForm 4
No open-market trades in the last 12 months.
- Vera Therapeutics
Dual BAFF/APRIL IgAN challenger with atacicept
- Vertex Pharmaceuticals
Dual BAFF/APRIL IgAN challenger with povetacicept
- Vor Biopharma
BAFF/APRIL telitacicept platform for IgAN and autoimmunity
- Novartis (ADR)
Multi-asset IgAN portfolio with approved oral alternatives
- Travere Therapeutics
Approved IgAN therapy competing outside immune cytokine blockade
- Biogen
Anti-CD38 renal immunology program targeting IgAN
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Jade Biosciences | $21.43 | +1.95% | $1.30B | — | — | — | — |
| Vera Therapeutics | $35.06 | −1.75% | $2.56B | — | — | — | — |
| Vertex Pharmaceuticals | $555.40 | −0.23% | $141.31B | 32.4 | 28.6 | 11.2 | +12.5% |
| Vor Biopharma | $24.75 | −0.12% | $1.34B | — | — | — | — |
| Novartis (ADR) | $162.45 | +0.01% | $308.79B | 24.5 | 17.3 | 5.6 | +0.9% |
| Travere Therapeutics | $67.85 | +0.95% | $6.25B | — | 34.3 | 10.6 | +48.2% |
| Biogen | $222.65 | −0.03% | $32.90B | 39.4 | 16.8 | 3.3 | +3.4% |
| Median | 32.4 | 23.0 | 8.1 | +7.9% |