SCHEDULE: Deep Track Capital Discloses 6.99% Stake in Jade Biosciences

Deep Track Capital, LP, along with Deep Track Biotechnology Master Fund, Ltd. and David Kroin, reported a 6.99% beneficial ownership stake in Jade Biosciences, Inc. as of September 30, 2025.

Summary

• Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively reported beneficial ownership of 2,279,892 shares of Jade Biosciences, Inc. Common Stock.
• This ownership represents 6.99% of the total class of securities outstanding.
• The calculation of the percentage of class is based on 32,626,730 Common Stock outstanding as of August 8, 2025, as reported in Jade Biosciences' 10-Q filing on August 13, 2025.
• The reporting persons hold shared voting power and shared dispositive power over all 2,279,892 shares.
• The filing is an Amendment No. 1 to Schedule 13G, indicating a change in previously reported beneficial ownership or a new filing requirement.
• The securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, as certified by the reporting persons.

Sentiment

Score: 6

Explanation: The disclosure of a significant beneficial ownership stake by an institutional investor like Deep Track Capital can be perceived as a positive signal of confidence in Jade Biosciences, Inc., although the filing itself is a factual disclosure without explicit sentiment.

Positives

• A significant institutional investor, Deep Track Capital, LP, has disclosed a substantial beneficial ownership stake, which can be interpreted as a vote of confidence in Jade Biosciences, Inc.
• The filing indicates a passive investment strategy, suggesting the investor is not seeking to influence or change control of the company, which can provide stability.

Future Outlook

No specific forward-looking statements or guidance regarding Jade Biosciences, Inc.'s operations or financial performance are provided in this beneficial ownership disclosure.

Industry Context

Institutional filings like this Schedule 13G are routine disclosures in the U.S. equity markets, signaling significant ownership stakes by investment funds. For biotechnology companies, such disclosures can sometimes indicate growing investor interest in their pipeline or market potential, especially from specialized funds like Deep Track Biotechnology Master Fund, Ltd.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may positively influence investor sentiment and potentially the stock price, signaling confidence from a sophisticated investor.

Key Dates

Keywords

Jade Biosciences, Deep Track Capital, Deep Track Biotechnology Master Fund, David Kroin, Beneficial Ownership, Schedule 13G, Institutional Investment, Common Stock, Biotechnology