Janux Therapeutics (NASDAQ:JANX) Sets New 1-Year Low - Time to Sell?

Key Points

• Janux Therapeutics' shares hit a new 52-week low at $21.73, closing at $21.77 with a trading volume of 641,981 shares.
• Analysts have set a consensus price target of $78.31 for the stock, with multiple firms rating it as "buy" and price targets ranging from $42.00 to $100.00.
• The company reported an EPS of (0.55), missing the consensus estimate, while institutional investors own approximately 75.39% of its stock.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $21.73 and last traded at $21.77, with a volume of 641981 shares. The stock had previously closed at $22.84.

Analysts Set New Price Targets

A number of research firms have weighed in on JANX. Guggenheim initiated coverage on shares of Janux Therapeutics in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $72.00 price objective on the stock. Piper Sandler assumed coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $42.00 price target for the company. Truist Financial initiated coverage on Janux Therapeutics in a research report on Wednesday, September 10th. They issued a "buy" rating and a $100.00 price target for the company. Stifel Nicolaus reissued a "buy" rating and issued a $45.00 price target on shares of Janux Therapeutics in a report on Wednesday, September 10th. Finally, Barclays assumed coverage on Janux Therapeutics in a research note on Wednesday, September 17th. They set an "overweight" rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $78.31.

Janux Therapeutics Trading Down 4.7%

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -12.09 and a beta of 2.84. The business has a 50-day moving average price of $24.26 and a two-hundred day moving average price of $25.93.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.07). On average, equities research analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of Janux Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Janux Therapeutics by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,033 shares of the company's stock worth $244,000 after buying an additional 3,168 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Janux Therapeutics by 3.0% in the 1st quarter. New York State Common Retirement Fund now owns 16,435 shares of the company's stock worth $444,000 after acquiring an additional 471 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Janux Therapeutics by 88.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 75,860 shares of the company's stock worth $2,048,000 after acquiring an additional 35,511 shares in the last quarter. Millennium Management LLC bought a new stake in Janux Therapeutics during the 4th quarter valued at about $6,216,000. Finally, California State Teachers Retirement System grew its stake in shares of Janux Therapeutics by 82.2% in the fourth quarter. California State Teachers Retirement System now owns 36,735 shares of the company's stock worth $1,967,000 after acquiring an additional 16,575 shares during the period. Institutional investors and hedge funds own 75.39% of the company's stock.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.

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