Jounce Therapeutics, Inc. (JNCE) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Jounce Therapeutics, Inc. (NASDAQ:JNCE) announced its earnings results on Monday. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.12, reports. The firm had revenue of $18.10 million during the quarter, compared to analysts’ expectations of $20.00 million. The company’s quarterly revenue was up 7.1% compared to the same quarter last year.

Jounce Therapeutics (JNCE) traded up $0.04 during midday trading on Tuesday, reaching $14.81. 130,200 shares of the company were exchanged, compared to its average volume of 158,505. Jounce Therapeutics has a 1-year low of $11.05 and a 1-year high of $29.29.

An institutional investor recently raised its position in Jounce Therapeutics stock. State Street Corp increased its stake in shares of Jounce Therapeutics, Inc. (NASDAQ:JNCE) by 120.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,233 shares of the company’s stock after buying an additional 54,803 shares during the period. State Street Corp owned about 0.31% of Jounce Therapeutics worth $1,409,000 as of its most recent SEC filing. 44.47% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on JNCE shares. Zacks Investment Research downgraded shares of Jounce Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Robert W. Baird restated a “buy” rating and set a $30.00 price objective on shares of Jounce Therapeutics in a report on Friday. Finally, J P Morgan Chase & Co set a $28.00 price objective on shares of Jounce Therapeutics and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Jounce Therapeutics has a consensus rating of “Buy” and an average target price of $23.67.

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Jounce Therapeutics Company Profile

Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.

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