Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Jounce Therapeutics Inc (NASDAQ:JNCE) by 29.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,310 shares of the company’s stock after acquiring an additional 38,780 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.51% of Jounce Therapeutics worth $567,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of JNCE. JPMorgan Chase & Co. grew its position in Jounce Therapeutics by 153.0% during the third quarter. JPMorgan Chase & Co. now owns 440,029 shares of the company’s stock valued at $2,861,000 after acquiring an additional 266,126 shares during the last quarter. Bridgeway Capital Management Inc. bought a new position in Jounce Therapeutics during the third quarter valued at approximately $1,321,000. Man Group plc bought a new position in Jounce Therapeutics during the third quarter valued at approximately $1,299,000. Renaissance Technologies LLC bought a new position in Jounce Therapeutics during the third quarter valued at approximately $1,086,000. Finally, Dimensional Fund Advisors LP grew its position in Jounce Therapeutics by 37.8% during the third quarter. Dimensional Fund Advisors LP now owns 433,712 shares of the company’s stock valued at $2,819,000 after acquiring an additional 118,881 shares during the last quarter. Institutional investors and hedge funds own 72.65% of the company’s stock.
A number of analysts have recently weighed in on JNCE shares. Zacks Investment Research raised Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Tuesday, January 22nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of Jounce Therapeutics in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $11.67.
NASDAQ:JNCE opened at $6.84 on Wednesday. The company has a market cap of $209.82 million, a PE ratio of -8.14 and a beta of 3.79. Jounce Therapeutics Inc has a fifty-two week low of $2.66 and a fifty-two week high of $27.24.
Jounce Therapeutics (NASDAQ:JNCE) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $20.10 million during the quarter, compared to analyst estimates of $12.86 million. Jounce Therapeutics had a negative return on equity of 25.69% and a negative net margin of 41.99%. As a group, sell-side analysts forecast that Jounce Therapeutics Inc will post -1.21 EPS for the current year.
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About Jounce Therapeutics
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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