Janux Therapeutics (NASDAQ:JANX) Stock Rating Cut to Peer Perform at Wolfe Research

Key Points

• Wolfe Research downgraded Janux Therapeutics from “outperform” to “peer perform.” Analyst views remain mixed, but the overall consensus is “Moderate Buy,” with an average price target of $36.92.
• Janux reported a quarterly loss of $0.34 per share, narrower than analysts’ expected loss of $0.47, and revenue of $9.29 million versus an $8.03 million consensus estimate.
• Shares opened at $12.39 and were up 2.9% that day, near the stock’s 12-month low of $11.59; its 12-month high was $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) was downgraded by equities researchers at Wolfe Research from an "outperform" rating to a "peer perform" rating in a research note issued on Thursday, MarketBeat.com reports.

Several other equities analysts also recently commented on the stock. TD Cowen upgraded shares of Janux Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Truist Financial raised their price objective on shares of Janux Therapeutics from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, November 6th. Barclays boosted their target price on Janux Therapeutics from $14.00 to $15.00 and gave the company an "underweight" rating in a research report on Friday, November 6th. HC Wainwright reaffirmed a "buy" rating on shares of Janux Therapeutics in a research note on Monday, October 19th. Finally, Guggenheim reduced their price target on Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Janux Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $36.92.

Janux Therapeutics Trading Up 2.9%

Shares of JANX stock opened at $12.39 on Thursday. Janux Therapeutics has a 12-month low of $11.59 and a 12-month high of $35.34. The stock's 50-day moving average price is $17.13 and its 200-day moving average price is $15.39. The stock has a market capitalization of $758.06 million, a price-to-earnings ratio of -7.79 and a beta of 2.44.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.13. The firm had revenue of $9.29 million for the quarter, compared to the consensus estimate of $8.03 million. As a group, research analysts predict that Janux Therapeutics will post -1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

Several institutional investors have recently added to or reduced their stakes in JANX. Diversified Trust Co increased its stake in Janux Therapeutics by 3.5% during the 3rd quarter. Diversified Trust Co now owns 17,429 shares of the company's stock valued at $301,000 after purchasing an additional 588 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Janux Therapeutics by 67.4% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company's stock valued at $28,000 after buying an additional 661 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Janux Therapeutics by 42.8% in the 2nd quarter. Versant Capital Management Inc now owns 2,615 shares of the company's stock valued at $40,000 after acquiring an additional 784 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Janux Therapeutics by 8.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,350 shares of the company's stock worth $213,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Janux Therapeutics by 7.6% in the 1st quarter. Quantinno Capital Management LP now owns 26,064 shares of the company's stock worth $362,000 after acquiring an additional 1,846 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company's stock.

About Janux Therapeutics

Janux Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing immunotherapies for cancer. The company's research focuses on engaging a patient's T cells to recognize and attack tumors. Janux's proprietary platforms are designed to keep certain immune therapies inactive until they reach the tumor environment, with the goal of limiting activity in healthy tissues. Its clinical-stage programs include candidates directed at targets such as PSMA and EGFR, and its broader pipeline includes additional investigational cancer therapies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.