Tang Capital Partners Now Owns 10.2% of Jounce Therapeutics

Fintel reports that Tang Capital Partners has filed a 13D form with the SEC disclosing ownership of 5.30MM shares of Jounce Therapeutics Inc (JNCE). This represents 10.2% of the company.

In their previous filing dated March 6, 2023 they reported 5.00MM shares and 9.70% of the company, an increase in shares of 6.00% and an increase in total ownership of 0.50% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 240.03% Upside

As of March 14, 2023, the average one-year price target for Jounce Therapeutics is $3.40. The forecasts range from a low of $1.01 to a high of $5.25. The average price target represents an increase of 240.03% from its latest reported closing price of $1.00.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Jounce Therapeutics is $9MM, a decrease of 88.60%. The projected annual non-GAAP EPS is -$2.23.

What is the Fund Sentiment?

There are 221 funds or institutions reporting positions in Jounce Therapeutics. This is a decrease of 22 owner(s) or 9.05% in the last quarter. Average portfolio weight of all funds dedicated to JNCE is 0.01%, a decrease of 53.06%. Total shares owned by institutions decreased in the last three months by 14.86% to 37,094K shares. The put/call ratio of JNCE is 0.03, indicating a bullish outlook.

What are Large Shareholders Doing?

Rtw Investments holds 5,106K shares representing 9.79% ownership of the company. No change in the last quarter.

Deep Track Capital holds 4,260K shares representing 8.17% ownership of the company. No change in the last quarter.

Cowen And Company holds 3,647K shares representing 7.00% ownership of the company. No change in the last quarter.

Bank Of America holds 3,277K shares representing 6.28% ownership of the company. In it’s prior filing, the firm reported owning 12K shares, representing an increase of 99.65%. The firm increased its portfolio allocation in JNCE by 12,737.99% over the last quarter.

Millennium Management holds 1,829K shares representing 3.51% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Jounce Therapeutics Background Information
(This description is provided by the company.)

Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has multiple development stage programs ongoing while simultaneously advancing additional early-stage assets from its robust discovery engine based on its Translational Science Platform. Jounce’s highest priority program, JTX-8064, is a LILRB2 (ILT4) receptor antagonist shown to reprogram immune-suppressive tumor associated macrophages to an anti-tumor state in preclinical studies. A Phase 1 clinical trial, named INNATE, for JTX-8064 as a monotherapy and in combination with JTX-4014, Jounce’s internal PD-1 inhibitor, or pembrolizumab is currently enrolling patients with advanced solid tumors. Jounce’s most advanced product candidate, vopratelimab, is a monoclonal antibody that binds to and activates ICOS, and is currently being studied in the SELECT Phase 2 trial. JTX-4014 is a PD-1 inhibitor intended for combination use in the INNATE and SELECT trials and with Jounce’s broader pipeline. Additionally, Jounce exclusively licensed worldwide rights to JTX-1811, a monoclonal antibody targeting CCR8 and designed to selectively deplete T regulatory cells in the tumor microenvironment, to Gilead Sciences, Inc.

This article originally appeared on Fintel

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