Janux Therapeutics (NASDAQ:JANX) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Janux Therapeutics (NASDAQ:JANX) from a "hold" to a "sell" in a research note released Saturday.
• Despite that downgrade, the consensus remains a Moderate Buy — 11 analysts rate the stock a Buy (11 Buy, 2 Hold, 1 Sell) with an average price target of $56.91, although several firms have recently trimmed their targets.
• Shares trade around $13.18 (1-year range $12.12–$35.34) with a market cap of ~$802M; the company recently beat quarterly EPS and revenue estimates, but insiders sold ~19,033 shares in the past 90 days (insiders own 8.1%).

Janux Therapeutics (NASDAQ:JANX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other research firms also recently commented on JANX. Piper Sandler decreased their price objective on Janux Therapeutics from $42.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, January 16th. Cantor Fitzgerald cut their target price on Janux Therapeutics from $150.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Wedbush reissued an "outperform" rating and issued a $45.00 price target (down from $76.00) on shares of Janux Therapeutics in a research report on Tuesday, December 2nd. Stifel Nicolaus decreased their price target on shares of Janux Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, December 2nd. Finally, HC Wainwright lowered their price objective on shares of Janux Therapeutics from $70.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, December 2nd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.91.

Janux Therapeutics Price Performance

Shares of JANX opened at $13.18 on Friday. Janux Therapeutics has a one year low of $12.12 and a one year high of $35.34. The company has a market cap of $801.74 million, a PE ratio of -7.20 and a beta of 2.88. The stock has a 50-day moving average of $13.68 and a 200-day moving average of $19.32.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.65) by $0.14. The firm had revenue of $7.88 million for the quarter, compared to analyst estimates of $0.08 million. Analysts expect that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Zachariah Mciver sold 2,714 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $13.73, for a total value of $37,263.22. Following the completion of the sale, the insider directly owned 23,286 shares of the company's stock, valued at approximately $319,716.78. This represents a 10.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Alan Campbell sold 8,072 shares of the firm's stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.73, for a total value of $110,828.56. Following the transaction, the chief executive officer owned 284,982 shares in the company, valued at approximately $3,912,802.86. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 19,033 shares of company stock valued at $261,323. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of Janux Therapeutics

Several institutional investors have recently made changes to their positions in JANX. Squarepoint Ops LLC boosted its holdings in Janux Therapeutics by 230.0% during the second quarter. Squarepoint Ops LLC now owns 189,569 shares of the company's stock worth $4,379,000 after purchasing an additional 132,121 shares during the last quarter. Aberdeen Group plc grew its position in Janux Therapeutics by 21.1% in the 3rd quarter. Aberdeen Group plc now owns 345,476 shares of the company's stock worth $8,443,000 after purchasing an additional 60,188 shares in the last quarter. Geode Capital Management LLC increased its stake in Janux Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 902,312 shares of the company's stock valued at $20,845,000 after buying an additional 121,403 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Janux Therapeutics in the 2nd quarter valued at about $757,000. Finally, Congress Asset Management Co. bought a new position in shares of Janux Therapeutics during the 3rd quarter worth approximately $1,363,000. Institutional investors own 75.39% of the company's stock.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.

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