Zacks Investment Research downgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a buy rating to a hold rating in a research note published on Wednesday morning.

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 research firms have also recently issued reports on JNCE. ValuEngine raised shares of Jounce Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Jounce Therapeutics from $12.00 to $10.00 and set a hold rating on the stock in a research note on Friday, August 10th. Raymond James started coverage on shares of Jounce Therapeutics in a research note on Thursday, June 28th. They issued an outperform rating and a $13.00 price target on the stock. HC Wainwright set a $13.00 price target on shares of Jounce Therapeutics and gave the company a buy rating in a research note on Monday, August 13th. Finally, Cowen reissued a hold rating on shares of Jounce Therapeutics in a research note on Thursday, August 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Jounce Therapeutics currently has an average rating of Hold and an average target price of $12.54.

Shares of NASDAQ JNCE traded down $0.07 during midday trading on Wednesday, reaching $5.89. 201,519 shares of the stock were exchanged, compared to its average volume of 474,926. The stock has a market capitalization of $212.08 million, a price-to-earnings ratio of -10.33 and a beta of 5.34. Jounce Therapeutics has a twelve month low of $5.83 and a twelve month high of $29.25.

Jounce Therapeutics (NASDAQ:JNCE) last issued its quarterly earnings data on Friday, August 10th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.23. The business had revenue of $19.38 million for 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%. On average, equities analysts forecast that Jounce Therapeutics will post -1.26 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in JNCE. NumerixS Investment Technologies Inc acquired a new stake in Jounce Therapeutics in the 2nd quarter valued at $132,000. MetLife Investment Advisors LLC acquired a new stake in Jounce Therapeutics during the 1st quarter worth $159,000. Bank of America Corp DE boosted its stake in Jounce Therapeutics by 243.4% during the 2nd quarter. Bank of America Corp DE now owns 28,607 shares of the company’s stock worth $219,000 after purchasing an additional 20,276 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Jounce Therapeutics during the 1st quarter worth $243,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Jounce Therapeutics during the 1st quarter worth $313,000. 84.11% of the stock is currently owned by hedge funds and other institutional investors.

Jounce Therapeutics Company Profile

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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