Jade Biosciences (JBIO) AI Stock Analysis

• Market Cap: $609.56M
• Dividend Yield: 14.68%
• Average Volume (3M): 127.19K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.08
• Revenue Growth: N/A
• EPS Growth: 89.16%
• Country: US
• Employees: 50
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.48
• Shares Outstanding: 46,004,204
• 10 Day Avg. Volume: 252,880
• 30 Day Avg. Volume: 127,195
• PEG Ratio: 53.52
• Price to Book (P/B): -1.62K
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.67K
• Enterprise Value/Market Cap: 0.10
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -3.04K
• Enterprise Value/Ebitda: -1.02
• 1Y Price Target: $23.75
• Price Target Upside: 79.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: $14.50 ▲(9.43% Upside)

The score is held back primarily by weak financial performance (no revenue, growing losses, and heavy cash burn). Offsetting factors include constructive technical positioning versus longer-term moving averages and positive corporate events that extend the cash runway and advance pipeline plans, while valuation signals remain mixed due to negative earnings despite a high dividend yield.

Positive Factors

Strategic Merger

The merger with Jade Biosciences enhances strategic positioning in the biopharma industry, potentially expanding market reach and capabilities in autoimmune therapies.

Capital Infusion

The capital raised through private placement strengthens the financial foundation, providing resources to advance product development and clinical trials.

Product Pipeline Expansion

The introduction of JADE-001 into clinical trials expands the product pipeline, potentially addressing unmet needs in the IgAN market, valued at over $10 billion.

Negative Factors

Zero Revenue

The absence of revenue generation highlights a critical challenge in achieving financial sustainability and limits operational funding from internal sources.

Growing Losses

Increasing losses indicate operational inefficiencies and financial strain, which could hinder long-term viability and investment attractiveness.

Negative Cash Flows

Persistent negative cash flows reflect high cash burn, necessitating external financing for operations, which may not be sustainable long-term.

Jade Biosciences Business Overview & Revenue Model

Company Description

Jade Biosciences, Inc. is a biotechnology company focused on developing best-in-class therapies to address critical unmet needs in autoimmune diseases. Their lead asset, JADE-001, targets the anti-A PRoliferation-Inducing Ligand (APRIL) pathway for the treatment of immunoglobulin A (IgA) nephropathy. JADE-001 is anticipated to enter clinical trials in the second half of 2025, with initial data expected in the first half of 2026. The company's pipeline also includes two preclinical antibody programs, JADE-002 and JADE-003.

How the Company Makes Money

Aerovate Therapeutics makes money primarily through the development and commercialization of its therapeutic products. The company aims to generate revenue by bringing its lead product candidate, AV-101, to market, pending successful clinical trials and regulatory approval. Revenue streams are expected to include sales of AV-101 upon commercialization, potential partnerships or collaborations with other pharmaceutical companies, and licensing agreements that may provide upfront payments, milestone payments, and royalties. Additionally, Aerovate may seek grants or funding from health organizations to support its research and development efforts.

Jade Biosciences Financial Statement Overview

Summary

Aerovate Therapeutics faces significant financial challenges with zero revenue and growing losses on the income statement. The balance sheet shows declining equity and financial instability, despite adequate liquidity. Cash flows are negative with high cash burn, though maintained through financing activities.

Income Statement

Aerovate Therapeutics has consistently reported zero total revenue over the years, indicating a lack of sales or revenue-generating activities. The company exhibits substantial and growing EBIT and net income losses, reflecting high operational and net losses with no gross profit margin due to no revenue. The absence of revenue growth and negative margins substantially weaken its income statement performance.

Balance Sheet

The company's balance sheet shows a relatively strong cash position compared to its liabilities, indicating good liquidity. However, the stockholders' equity has sharply declined over the years, with negative equity observed in earlier periods, suggesting financial instability. The debt-to-equity ratio is low due to minimal debt, but the overall financial health is concerning due to the continuous erosion of equity.

Cash Flow

Aerovate Therapeutics has a history of negative operating and free cash flows, indicating cash burn without offsetting revenue. However, the company has managed to maintain cash through financing activities, albeit not sustainably. The absence of free cash flow growth and high negative cash flow metrics showcase significant cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-21.00K	-282.00K	-96.00K	-68.00K	-15.00K	-1.00K
EBITDA	-62.66M	-69.29M	-75.37M	-51.42M	-22.95M	-9.54M
Net Income	-62.74M	-69.63M	-75.52M	-51.51M	-22.96M	-9.61M
Balance Sheet
Total Assets	202.45M	80.33M	127.42M	135.30M	175.36M	4.71M
Cash, Cash Equivalents and Short-Term Investments	198.91M	78.62M	122.44M	129.22M	167.38M	4.57M
Total Debt	747.00K	417.00K	675.00K	1.09M	574.00K	0.00
Total Liabilities	23.10M	3.90M	17.96M	8.56M	2.94M	1.77M
Stockholders Equity	179.35M	76.43M	109.46M	126.74M	172.42M	2.94M
Cash Flow
Free Cash Flow	-69.90M	-71.20M	-56.92M	-39.32M	-27.58M	-7.86M
Operating Cash Flow	-69.71M	-71.20M	-56.78M	-39.12M	-27.40M	-7.86M
Investing Cash Flow	-148.56M	56.03M	11.88M	6.93M	-113.43M	0.00
Financing Cash Flow	191.16M	25.43M	46.00M	396.00K	190.46M	8.92M

Jade Biosciences Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JBIO, the sentiment is Positive. The current price of 13.25 is below the 20-day moving average (MA) of 15.21, above the 50-day MA of 12.77, and above the 200-day MA of 9.65, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 41.40 is Neutral, neither overbought nor oversold. The STOCH value of 14.85 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JBIO.

Jade Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JBIO	55 Neutral	$609.56M	-1.17	-50.23%	14.68%	―	89.16%
TECX	55 Neutral	$401.65M	-5.57	-32.21%	―	―	60.40%
CLLS	54 Neutral	$325.45M	-13.44	-31.07%	―	158.54%	66.90%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IMMP	48 Neutral	$429.51M	-10.96	-35.86%	―	―	-17.16%
HUMA	45 Neutral	$225.81M	-4.90	―	―	―	82.23%
GALT	44 Neutral	$206.33M	-5.41	―	―	―	18.82%

Jade Biosciences Corporate Events

Jade Biosciences Outlines 2026 Autoimmune Pipeline Priorities

On January 5, 2026, Jade Biosciences announced its 2026 strategic priorities ahead of the J.P. Morgan Healthcare Conference, detailing plans to advance its monoclonal antibody pipeline for autoimmune diseases, including ongoing Phase 1 testing of JADE101 in healthy volunteers, the planned start of a Phase 2 trial in IgA nephropathy in mid-2026 with preliminary data in 2027, and positioning selective anti-APRIL therapy as a potential foundational treatment in IgAN. The company also outlined development timelines for JADE201, which is expected to enter a first-in-human rheumatoid arthritis study in the second quarter of 2026, and JADE301, which is in preclinical testing with a first-in-human trial planned for the first half of 2027, while providing a preliminary financial update indicating approximately $336 million in cash, cash equivalents and investments as of December 31, 2025, expected to fund operations into the first half of 2028, underscoring sufficient capital to support multiple clinical catalysts and expansion of its autoimmune pipeline.

The most recent analyst rating on (JBIO) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on Jade Biosciences stock, see the JBIO Stock Forecast page.

Jade Biosciences Announces Private Placement Agreement

On December 13, 2025, Jade Biosciences entered into a securities purchase agreement with BB Biotech for a private placement of 3,214,286 shares of common stock at $14.00 per share, expected to raise approximately $45 million. The proceeds will fund research and development, corporate expenses, and working capital. The private placement, exempt from public offering registration, is set to close on December 16, 2025, with a registration rights agreement to file a resale registration statement with the SEC.

The most recent analyst rating on (JBIO) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Jade Biosciences stock, see the JBIO Stock Forecast page.

Jade Biosciences Reports Q3 2025 Financial Results

On April 28, 2025, Jade Biosciences, formerly Aerovate Therapeutics, completed a business merger, resulting in a name change and a reverse stock split. The company presented promising preclinical data for JADE101 and initiated a Phase 1 study, with interim results expected in 2026. They also introduced JADE201, targeting autoimmune diseases, and completed a $135 million private placement to extend their cash runway into 2028. The third quarter of 2025 saw increased R&D and G&A expenses, leading to a net loss of $25.2 million.

The most recent analyst rating on (JBIO) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Jade Biosciences stock, see the JBIO Stock Forecast page.

Jade Biosciences Secures $135 Million in Private Placement

On October 6, 2025, Jade Biosciences, Inc. entered into a Securities Purchase Agreement for a private placement expected to close on October 8, 2025, raising approximately $135 million. The funds will support research and development, corporate expenses, and working capital, with operations expected to be funded into the first half of 2028. Additionally, Jade entered into a license agreement with Paragon Therapeutics on October 3, 2025, for exclusive rights to develop and commercialize antibodies targeting BAFF-R, with milestone payments up to $22 million. This strategic move enhances Jade’s pipeline and strengthens its position in the autoimmune disease market.

The most recent analyst rating on (JBIO) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Jade Biosciences stock, see the JBIO Stock Forecast page.