JBIO
Jade Biosciences, Inc.Healthcare·Biotechnology
$21.04
$686M market cap
Revenue
$0.0M
Free Cash Flow
$-57.7M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 progr
2-Year Price History
$22.21-96.3%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -43.4 | -43.5 | -40.4 | -24.1 | -24.1 | -0.0 | 311.3 | 0.7 | 57.8 | -244.7% | -- | -- |
| Act | 2025-Q4 | 0.0 | -35.0 | -35.0 | -31.9 | -33.7 | -33.7 | -0.0 | 336.2 | 0.7 | 49.3 | -128.6% | -- | -- |
Valuation & Metrics
Market Stats
Price$21.04
Market Cap$686M
Enterprise Value$376M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-8.4%
Dividend Yield (TTM)11.4%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-72.3M
Free Cash Flow$-57.7M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-186.7%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares3.1M
Days to Cover4.0
Change (vs Prior)+1.2%
Need at least 2 settlement dates for chart
Employees
Headcount50
Revenue / Employee$0
Gross Profit / Employee$-180
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
79.6%(+44.9% YoY)
107 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
11.5%(+5.3% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
0.0%(-0.0% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| FMR LLC | $99.6M | $11.63 | +$2.7M | +$99.6M | -0.0% | $1.89T |
| Fairmount Funds Management LLC | $64.0M | $11.58 | +$0 | +$64.0M | +4.6% | $1.38B |
| RA CAPITAL MANAGEMENT, L.P. | $51.6M | $13.86 | +$0 | +$51.6M | -4.4% | $9.44B |
| Bellevue Group AG | $49.2M | $15.37 | +$2.3M | +$49.2M | -4.3% | $4.20B |
| VR Adviser, LLC | $45.2M | $9.99 | +$0 | +$45.2M | -1.7% | $2.68B |
| JANUS HENDERSON GROUP PLC | $43.6M | $14.05 | +$43.6M | +$43.6M | +1.2% | $209.29B |
| BlackRock, Inc.Passive | $32.5M | $11.15 | −$7.8M | +$32.5M | -0.2% | $5.69T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $25.2M | $14.05 | +$25.2M | +$25.2M | — | $4.04T |
| BAKER BROS. ADVISORS LP | $23.1M | $15.43 | +$0 | +$23.1M | -0.5% | $16.13B |
| Remedium Capital Partners, LLC | $22.2M | $15.43 | +$0 | +$22.2M | +65.1% | $281M |
| Versant Venture Management, LLC | $21.4M | $9.99 | +$0 | +$21.4M | -14.5% | $141M |
| Avidity Partners Management LP | $19.7M | $11.05 | +$0 | +$19.7M | -8.1% | $505M |
| Samsara BioCapital, LLC | $13.6M | $12.45 | +$0 | +$13.6M | -3.9% | $1.03B |
| GREAT POINT PARTNERS LLC | $13.6M | $11.45 | +$2.2M | +$13.6M | -4.5% | $408M |
| MARSHALL WACE, LLP | $13.3M | $15.05 | +$977K | +$13.3M | +0.6% | $92.71B |
| Aberdeen Group plc | $12.2M | $15.43 | +$0 | +$12.2M | -0.6% | $61.88B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $11.6M | $11.11 | −$271K | +$11.6M | +2.3% | $1.61T |
| Soleus Capital Management, L.P. | $11.2M | $9.99 | +$0 | +$11.2M | -0.8% | $2.47B |
| ACORN CAPITAL ADVISORS, LLC | $11.1M | $14.05 | +$11.1M | +$11.1M | +5.6% | $352M |
| STATE STREET CORPPassive | $9.2M | $10.89 | +$179K | +$9.2M | -0.2% | $2.89T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.57%
avg per quarter
Holders (ex-self)
+1.12%
excl. this stock
Buyers (this Q)
+1.54%
58 buyers · $0.11B in
Sellers (this Q)
-1.60%
33 sellers · $0.06B out
alpha coverage: 95% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-1.1%
how holders react when this stock falls
On quiet Qs
-5.2%
−10% to +10% baseline
On rallies (+10%+)
+9.8%
how they react when this stock rises
Holders' portfolio flow this Q
-1.4%
outflows — trims may be forced
Sellers' portfolio flow this Q
+0.8%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-5.2%
Holder mid (any stock)
-4.5%
Holder rally (any stock)
-4.1%
Biggest decreases this quarter
RTW INVESTMENTS, LP−$12.3Mα-2.2BlackRock, Inc.−$7.8Mα-0.2Caption Management, LLCexited−$4.6MDRIEHAUS CAPITAL MANAGEMENT LLC−$3.5Mα+0.3AMERIPRISE FINANCIAL INCexited−$2.9MWoodline Partners LPexited−$1.3MAffinity Asset Advisors, LLC−$1.1Mα+0.59823 Capital, L.P.exited−$821KTUDOR INVESTMENT CORP ET ALexited−$373KGEODE CAPITAL MANAGEMENT, LLC−$271Kα+2.3
New buyers this quarter
Top-5 holders · 44.2%
FMR LLC--
Fairmount Funds Management LLC--
RA CAPITAL MANAGEMENT, L.P.--
Bellevue Group AG--
VR Adviser, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FMR LLC7.1MFairmount Funds Management LLC4.6MRA CAPITAL MANAGEMENT, L.P.3.7MBellevue Group AG3.5MVR Adviser, LLC3.2MJANUS HENDERSON GROUP PLC3.1MBAKER BROS. ADVISORS LP1.6MDeep Track Capital, LP—Remedium Capital Partners, LLC1.6MVersant Venture Management, LLC1.5M
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Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (4 analysts)$37.757940.0%
Last Year (7 analysts)$31.144800.0%
Current Price$21.04
Analyst Ratings
4
Buy: 4Consensus: Buy
Corporate
Order Flow (FINRA, ~3w lag)
15.1%retail-4.2pp
37.6%dark+9.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.