Jounce Therapeutics, Inc. (NASDAQ:JNCE) Posts Earnings Results, Beats Estimates By $0.04 EPS

Jounce Therapeutics, Inc. (NASDAQ:JNCE) announced its earnings results on Wednesday, August 9th. The company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04, MarketWatch Earnings reports. The company had revenue of $20.29 million during the quarter, compared to analyst estimates of $19.94 million. During the same period in the previous year, the company posted ($7.23) earnings per share.

Shares of Jounce Therapeutics (NASDAQ JNCE) traded up 6.97% during midday trading on Friday, reaching $14.28. 176,269 shares of the company’s stock traded hands. The stock has a 50 day moving average of $13.20 and a 200-day moving average of $19.40. The stock has a market cap of $458.87 million and a P/E ratio of 528.89. Jounce Therapeutics has a 12 month low of $11.05 and a 12 month high of $29.29.

A number of equities analysts recently weighed in on JNCE shares. Zacks Investment Research raised shares of Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, April 26th. Cowen and Company reissued a “buy” rating on shares of Jounce Therapeutics in a research report on Friday, June 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $23.67.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC boosted its position in shares of Jounce Therapeutics by 26.4% in the second quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock worth $158,000 after buying an additional 2,347 shares in the last quarter. Nationwide Fund Advisors raised its position in Jounce Therapeutics by 203.3% in the second quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock worth $168,000 after buying an additional 8,007 shares during the last quarter. Bank of New York Mellon Corp raised its position in Jounce Therapeutics by 46.0% in the second quarter. Bank of New York Mellon Corp now owns 25,574 shares of the company’s stock worth $359,000 after buying an additional 8,063 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Jounce Therapeutics by 180.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,600 shares of the company’s stock worth $177,000 after buying an additional 8,100 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Jounce Therapeutics during the first quarter worth $212,000. Hedge funds and other institutional investors own 40.83% 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 developing therapies that enable the immune system to attack tumors. Through the use of its Translational Science Platform, the Company first focuses on specific cell types within tumors to prioritize targets, and then identify related biomarkers designed to match the right therapy to the right patient.

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