Jounce Therapeutics (NASDAQ:JNCE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, January 3rd. The firm presently has a $14.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential downside of 46.54% from the stock’s current price.

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. “

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird reissued a “buy” rating and set a $30.00 price target on shares of Jounce Therapeutics in a research report on Friday, November 10th. JPMorgan Chase & Co. set a $28.00 price target on shares of Jounce Therapeutics and gave the stock a “buy” rating in a research report on Monday, November 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.00.

Jounce Therapeutics (NASDAQ JNCE) opened at $26.19 on Wednesday. Jounce Therapeutics has a 52 week low of $11.05 and a 52 week high of $29.29. The stock has a market cap of $844.52 and a P/E ratio of -154.06.

Jounce Therapeutics (NASDAQ:JNCE) last announced its quarterly earnings data on Monday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.12. The firm had revenue of $18.10 million for the quarter, compared to analysts’ expectations of $20.00 million. Jounce Therapeutics had a negative net margin of 2.03% and a negative return on equity of 1.39%. The firm’s revenue was up 7.1% on a year-over-year basis. equities analysts predict that Jounce Therapeutics will post -0.86 EPS for the current fiscal year.

In related news, Director Barbara Gayle Duncan sold 4,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $25.00, for a total transaction of $100,000.00. Following the sale, the director now directly owns 4,000 shares in the company, valued at $100,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

A number of hedge funds have recently modified their holdings of the business. Teachers Advisors LLC increased its stake in Jounce Therapeutics by 26.4% in the 2nd quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock valued at $158,000 after buying an additional 2,347 shares during the last quarter. Strs Ohio increased its stake in Jounce Therapeutics by 10.7% in the 3rd quarter. Strs Ohio now owns 41,300 shares of the company’s stock valued at $643,000 after buying an additional 4,000 shares during the last quarter. American International Group Inc. increased its stake in Jounce Therapeutics by 132.2% in the 3rd quarter. American International Group Inc. now owns 9,559 shares of the company’s stock valued at $149,000 after buying an additional 5,442 shares during the last quarter. OxFORD Asset Management LLP increased its stake in Jounce Therapeutics by 11.9% in the 3rd quarter. OxFORD Asset Management LLP now owns 59,540 shares of the company’s stock valued at $927,000 after buying an additional 6,328 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in Jounce Therapeutics in the 3rd quarter valued at $124,000. Hedge funds and other institutional investors own 47.40% of the company’s stock.

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About Jounce Therapeutics

Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.

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