Janux Therapeutics (NASDAQ:JANX) Shares Up 5.5% - What's Next?

Key Points

• Janux Therapeutics shares rose 5.5% to about $18.34, despite trading volume running 80% below its average. The stock remains highly volatile, with a beta of 2.50.
• Analyst sentiment is broadly positive, with 10 Buy, two Hold, and two Sell ratings, producing a “Moderate Buy” consensus and an average price target of $36.46. However, several firms have recently lowered their targets, including Truist to $26.
• The company missed quarterly expectations, reporting an EPS loss of $0.35 versus the $0.25 consensus and revenue of $10.27 million versus $19.07 million expected. Institutional investors own 75.39% of the stock, with BlackRock recently establishing a stake worth approximately $94.2 million.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shot up 5.5% during trading on Monday . The company traded as high as $18.26 and last traded at $18.3390. 220,342 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,114,302 shares. The stock had previously closed at $17.39.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JANX. Truist Financial restated a "buy" rating and set a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Wolfe Research raised shares of Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 price objective on the stock in a research report on Monday. Stifel Nicolaus set a $35.00 price objective on shares of Janux Therapeutics in a research report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Janux Therapeutics in a research note on Monday, July 20th. Finally, Piper Sandler decreased their target price on shares of Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Janux Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $36.46.

Janux Therapeutics Stock Up 8.7%

The firm's fifty day moving average price is $15.66 and its two-hundred day moving average price is $14.63. The stock has a market capitalization of $1.16 billion, a PE ratio of -11.52 and a beta of 2.50.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The company had revenue of $10.27 million for the quarter, compared to the consensus estimate of $19.07 million. As a group, analysts predict that Janux Therapeutics, Inc. will post -1.76 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In other news, insider Janeen Noel Doyle sold 4,059 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the transaction, the insider directly owned 75,941 shares of the company's stock, valued at $1,065,452.23. This represents a 5.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.90% of the stock is owned by insiders.

Institutional Trading of Janux Therapeutics

Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Janux Therapeutics during the 2nd quarter valued at about $94,228,000. State Street Corp boosted its holdings in shares of Janux Therapeutics by 103.8% in the fourth quarter. State Street Corp now owns 3,853,951 shares of the company's stock worth $53,185,000 after buying an additional 1,962,486 shares during the last quarter. Prosight Management LP boosted its holdings in shares of Janux Therapeutics by 176.5% in the fourth quarter. Prosight Management LP now owns 2,392,523 shares of the company's stock worth $33,017,000 after buying an additional 1,527,173 shares during the last quarter. Bank of America Corp DE bought a new stake in Janux Therapeutics during the second quarter valued at approximately $13,985,000. Finally, Wellington Management Group LLP grew its position in Janux Therapeutics by 129.5% during the fourth quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company's stock valued at $22,221,000 after buying an additional 908,582 shares during the period. Institutional investors own 75.39% of the company's stock.

Janux Therapeutics Company Profile

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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