JBIO
Jade Biosciences, Inc.
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Neutral
-16/100
Last price
13.41
▼ 0.66 (4.69%)
MARKET · —
Price
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Tool
1D
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Range —
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Open
—
Prev close
14.07
Day high
14.34
Day low
13.15
Volume
493.86K
Market cap
$852.84M
P/E (TTM)
—
52W range
8.36 – 28.00
Trailing performance
Returnvs SPY
1W
-5.43%
-7.4%
1M
-32.61%
-33.8%
3M
-40.48%
-45.0%
6M
-18.03%
-36.2%
YTD
-13.09%
-27.3%
1Y
+51.35%
+34.9%
3Y
-97.18%
-179.4%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on JBIO open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
504.96K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Feb 12, 26 | DAHMS BRADFORD D Chief Financial Officer |
STOCK | 37.81K | $0 | Direct |
| Feb 12, 26 | FROHLICH TOM Chief Executive Officer |
STOCK | 78.75K | $0 | Direct |
| Feb 12, 26 | KING ANDREW JAMES Officer |
STOCK | 41.25K | $0 | Direct |
| Feb 12, 26 | BALTA ELIZABETH Officer |
STOCK | 28.13K | $0 | Direct |
| Oct 6, 25 | FAIRMOUNT FUNDS MANAGEMENT LLC Beneficial Owner of more than 10% of a Class of Security |
STOCK | 1.33M | $12.18M | Indirect |
| May 16, 25 | FROHLICH TOM Chief Executive Officer |
BUY | 6.00K | $44.40K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BALTA ELIZABETH |
Officer | 28.13K | Stock Award(Grant) |
DAHMS BRADFORD D |
Chief Financial Officer | 37.81K | Stock Award(Grant) |
FAIRMOUNT FUNDS MANAGEMENT LLC |
Beneficial Owner of more than 10% of a Class of Security | — | Stock Award(Grant) |
FROHLICH TOM |
Chief Executive Officer | 86.33K | Stock Award(Grant) |
KING ANDREW JAMES |
Officer | 386.11K | Stock Award(Grant) |
Fundamentals
Market cap$852.84M
Enterprise value$393.03M
Revenue (TTM)—
Gross profit—
EBITDA$-164.70M
Net income$-124.44M
EPS (TTM)$-1.92
Free cash flow—
Total cash$461.20M
Total debt$1.39M
Book value / share$6.92
Shares outstanding63.60M
Float51.97M
Short % of float21.13%
Dividend yield0.00%
Beta (5Y)—
Valuation & profitability ratios
Trailing P/E—
Forward P/E-5.04
PEG ratio—
Price / sales—
Price / book1.94
EV / revenue—
EV / EBITDA-2.39
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity—
Return on assets—
Debt / equity0.32
Current ratio14.93
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | YoY |
|---|---|---|
| Total revenue | $0 | |
| Operating revenue | $0 | |
| Research & development | $93.12M | |
| Selling, general & admin | $20.42M | |
| Total operating expense | $113.54M | |
| Operating income | -$113.54M | |
| Net interest income | $7.78M | |
| Pre-tax income | -$127.35M | |
| Tax provision | $58.00K | |
| Net income | -$127.41M | |
| Net income to common | -$127.41M | |
| Basic EPS | -3.19 | |
| Diluted EPS | -3.19 | |
| EBIT | -$113.54M | |
| EBITDA | -$113.52M | |
| Basic shares | 31.36M | |
| Diluted shares | 31.36M |
| Line item | 2025 | 2024 | YoY |
|---|---|---|---|
| Cash & equivalents | $88.44M | $69.39M | +27.5% |
| Cash & short-term investments | $336.16M | $69.39M | +384.5% |
| Total current assets | $348.82M | $69.65M | +400.8% |
| Property, plant & equipment | $896.00K | $0 | — |
| Total assets | $349.78M | $72.80M | +380.5% |
| Total current liabilities | $16.54M | $12.00M | +37.9% |
| Long-term debt | — | $107.60M | — |
| Total debt | $724.00K | $107.60M | -99.3% |
| Total liabilities | $17.26M | $119.60M | -85.6% |
| Retained earnings | -$174.39M | -$46.98M | -271.2% |
| Shareholder equity | $332.52M | -$46.80M | +810.5% |
| Working capital | $332.28M | $57.66M | +476.3% |
| Net tangible assets | $332.52M | -$46.80M | +810.5% |
| Shares issued | 49.32M | 32.24M | +53.0% |
| Line item | 2025 | YoY |
|---|---|---|
| Net income | -$127.41M | |
| Depreciation & amortisation | $26.00K | |
| Stock-based compensation | $20.01M | |
| Change in working capital | -$8.20M | |
| Operating cash flow | -$94.69M | |
| Capital expenditure | -$196.00K | |
| Investing cash flow | -$247.01M | |
| Financing cash flow | $360.77M | |
| Free cash flow | -$94.89M | |
| End cash position | $88.44M |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Operating revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Research & development | $50.06M | $36.05M | $28.54M | $22.01M | $22.55M | — | +38.9% |
| Selling, general & admin | $8.85M | $7.39M | $6.44M | $5.39M | $5.23M | — | +19.7% |
| Total operating expense | $58.92M | $43.45M | $34.98M | $27.40M | $27.78M | — | +35.6% |
| Operating income | -$58.92M | -$43.45M | -$34.98M | -$27.40M | -$27.78M | — | -35.6% |
| Net interest income | $3.23M | $3.10M | $3.08M | $2.25M | $1.83M | — | +4.1% |
| Pre-tax income | -$55.75M | -$40.35M | -$31.87M | -$25.18M | -$32.13M | — | -38.2% |
| Tax provision | $15.00K | $16.00K | — | — | $0 | $0 | -6.3% |
| Net income | -$55.77M | -$40.37M | -$31.93M | -$25.18M | -$32.13M | — | -38.1% |
| Net income to common | -$55.77M | -$40.37M | -$31.93M | -$25.18M | -$32.13M | — | -38.1% |
| Basic EPS | -0.76 | -0.57 | — | -0.48 | -0.86 | -1.18 | -33.3% |
| Diluted EPS | -0.76 | -0.57 | — | -0.48 | -0.86 | -1.18 | -33.3% |
| EBIT | -$58.92M | -$43.45M | -$34.98M | -$27.40M | -$27.78M | — | -35.6% |
| EBITDA | -$58.91M | -$43.44M | -$34.97M | -$27.39M | -$27.77M | — | -35.6% |
| Basic shares | 61.06M | 57.78M | — | 39.58M | 28.44M | 32.24M | +5.7% |
| Diluted shares | 61.06M | 57.78M | — | 39.58M | 28.44M | 32.24M | +5.7% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $107.25M | $55.09M | $88.44M | $50.11M | $220.94M | +94.7% |
| Cash & short-term investments | $461.20M | $311.30M | $336.16M | $198.91M | $220.94M | +48.2% |
| Total current assets | $471.25M | $318.52M | $348.82M | $201.36M | $222.98M | +48.0% |
| Property, plant & equipment | $793.00K | $847.00K | $896.00K | $916.00K | $924.00K | -6.4% |
| Total assets | $472.11M | $319.43M | $349.78M | $202.45M | $223.97M | +47.8% |
| Total current liabilities | $31.57M | $22.29M | $16.54M | $22.36M | $21.62M | +41.6% |
| Total debt | $628.00K | $679.00K | $724.00K | $747.00K | $792.00K | -7.5% |
| Total liabilities | $32.20M | $22.97M | $17.26M | $23.10M | $22.41M | +40.2% |
| Retained earnings | -$270.52M | -$214.76M | -$174.39M | -$142.46M | -$117.28M | -26.0% |
| Shareholder equity | $439.92M | $296.46M | $332.52M | $179.35M | $201.56M | +48.4% |
| Working capital | $439.68M | $296.23M | $332.28M | $179.00M | $201.36M | +48.4% |
| Net tangible assets | $439.92M | $296.46M | $332.52M | $179.35M | $201.56M | +48.4% |
| Shares issued | 63.56M | 49.35M | 49.32M | 32.63M | 32.63M | +28.8% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$55.77M | -$40.37M | -$31.93M | -$25.18M | -$32.13M | -38.1% |
| Depreciation & amortisation | $9.00K | $9.00K | $9.00K | $12.00K | $5.00K | 0.0% |
| Stock-based compensation | $13.61M | $7.41M | $9.40M | $4.29M | $3.90M | +83.7% |
| Change in working capital | -$1.17M | $9.34M | -$10.54M | -$1.06M | $1.82M | -112.6% |
| Operating cash flow | -$43.66M | -$24.08M | -$33.65M | -$22.12M | -$20.16M | -81.3% |
| Capital expenditure | — | — | -$3.00K | -$57.00K | — | — |
| Investing cash flow | -$97.63M | -$8.47M | -$98.16M | -$148.71M | -$136.00K | -1,052.7% |
| Financing cash flow | $193.52M | -$795.00K | $170.16M | $0 | $191.31M | +24,442.5% |
| Free cash flow | -$43.66M | -$24.08M | -$33.65M | -$22.18M | -$20.30M | -81.3% |
| End cash position | $107.25M | $55.09M | $88.44M | $50.11M | $220.94M | +94.7% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
15.00
+11.9% from spot
ATM implied vol
25.0%
Nearest strike to spot
Skew (10% OTM)
-25.0%
Calls bid over puts
Call volume
0
Contracts, this expiry
Put volume
20
Contracts, this expiry
Heaviest call OI
15.00
0 contracts
Heaviest put OI
15.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.54 | -0.76 | -40.3% |
| Mar 2026 | -0.48 | -0.57 | -19.4% |
| Dec 2025 | -0.47 | — | — |
| Sep 2025 | -0.67 | -0.48 | +28.4% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.79 | 1 | $0 | 0.0% |
| Next quarter | -0.81 | 1 | $0 | 0.0% |
| Current year | -2.93 | 1 | $0 | 0.0% |
| Next year | -2.66 | 1 | $0 | 0.0% |
Analyst targets & ownership
Mean target$50.13
High target$77.00
Low target$40.00
Implied upside273.79%
Analyst count8
ConsensusSTRONG BUY
Strong buy / Buy0 / 10
Hold0
Sell / Strong sell0 / 0
Held by insiders0.79%
Held by institutions116.10%
Institutions holding219
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
14.18
-5.44% from price
SMA 20
15.88
-15.58% from price
SMA 50
19.21
-30.19% from price
SMA 100
19.67
-31.82% from price
SMA 200
18.31
-26.77% from price
EMA 12
14.76
-9.13% from price
EMA 26
16.44
-18.45% from price
EMA 50
17.99
-25.44% from price
RSI (14)
21.6
Oversold
MACD (12,26,9)
-1.69
Hist -0.08
ATR (14)
0.95
7.05% of price
Realised vol 30D
52.7%
Annualised
Bollinger upper
19.56
20, 2σ
Bollinger lower
12.21
20, 2σ
50 / 200 cross
Golden
19.21 vs 18.31
Trend bias
Below 200
-26.77%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.26
More volatile than market
Correlation to SPY
0.23
Largely independent
Realised vol 30D
52.7%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-50.1%
Peak to trough
Max drawdown 5Y
-99.4%
Peak to trough
ATR 14
0.95
7.05% of price
Beta (reported)
—
5Y monthly, from filing
Short interest
Shares short
10.98M
Prior 9.65M
Change vs prior
+13.8%
Shorts adding
% of float
21.13%
Heavily shorted
% of shares out
17.27%
Against total outstanding
Days to cover
14.2
Crowded exit
Float
51.97M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 1, 26 | Wedbush | MAINTAINED | Outperform | Outperform |
| Oct 1, 26 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Aug 11, 26 | Wedbush | MAINTAINED | Outperform | Outperform |
| Aug 10, 26 | BTIG | MAINTAINED | Buy | Buy |
| Jun 15, 26 | UBS | INITIATED | — | Buy |
| Jun 2, 26 | Wedbush | MAINTAINED | Outperform | Outperform |
| Jun 1, 26 | BTIG | MAINTAINED | Buy | Buy |
| Jun 1, 26 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| May 27, 26 | BTIG | MAINTAINED | Buy | Buy |
| May 11, 26 | Guggenheim | MAINTAINED | Buy | Buy |
| May 11, 26 | Wedbush | MAINTAINED | Outperform | Outperform |
| Apr 27, 26 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay dateApr 28, 2025
Last split1:35
Split dateApr 29, 2025
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-30
Corporate Changes & Voting Matters
8-K · 2026-08-10
Corporate Changes & Voting Matters
8-K · 2026-07-01
Corporate Changes & Voting Matters
8-K · 2026-06-26
Corporate Changes & Voting Matters
8-K · 2026-06-11
Proxy Statements
DEFA14A · 2026-06-05
Corporate Changes & Voting Matters
8-K · 2026-06-04
Corporate Changes & Voting Matters
8-K · 2026-06-01
Headlines
Jade Biosciences Announces Preclinical Data Characterizing JADE301, a Potentially Best-in-Class, Half-Life-Extended Anti-IFN-β Monoclonal Antibody in Development for Dermatomyositis, at EADV 2026
GlobeNewswire · 7d ago
Climb Bio's Phase-1 Data From IgA Nephropathy Trial 'Positive,' Wedbush Says
MT Newswires · 33d ago
Jade Biosciences to Participate in Upcoming Conferences
GlobeNewswire · 36d ago
Wedbush Adjusts Price Target on Jade Biosciences to $47 From $45, Keeps Outperform Rating
MT Newswires · 58d ago
Jade Biosciences' Q2 Loss Narrows
MT Newswires · 58d ago
PRIVATE STRATEGY · BY QUALIFICATION
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