Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.6% - Here's Why

Key Points

• Janux Therapeutics' stock price fell by 4.6% to $25.30, with a notable decline in trading volume, dropping 86% from its average daily volume.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a significant price target ranging from $42.00 to $72.00.
• Janux reported a loss of $0.55 EPS in its latest earnings, missing expectations by $0.07, while institutional investors hold approximately 75.39% of the company's stock.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) was down 4.6% during trading on Monday . The stock traded as low as $25.67 and last traded at $25.30. Approximately 123,270 shares changed hands during trading, a decline of 86% from the average daily volume of 905,113 shares. The stock had previously closed at $26.51.

Analyst Ratings Changes

Several research analysts have commented on JANX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Janux Therapeutics in a report on Wednesday, October 8th. Guggenheim started coverage on shares of Janux Therapeutics in a research report on Wednesday, September 3rd. They set a "buy" rating and a $72.00 price objective for the company. Piper Sandler started coverage on shares of Janux Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $42.00 target price for the company. Raymond James Financial started coverage on shares of Janux Therapeutics in a report on Friday, July 11th. They issued an "outperform" rating and a $65.00 target price for the company. Finally, Barclays started coverage on shares of Janux Therapeutics in a report on Wednesday, September 17th. They issued an "overweight" rating and a $47.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.31.

Janux Therapeutics Stock Performance

The firm's 50-day moving average is $23.85 and its 200 day moving average is $25.29. The stock has a market cap of $1.56 billion, a PE ratio of -14.39 and a beta of 2.82.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly 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, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Janux Therapeutics by 1,574.0% in the first quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock valued at $45,000 after purchasing an additional 1,574 shares during the period. US Bancorp DE lifted its stake in shares of Janux Therapeutics by 2,402.9% in the first quarter. US Bancorp DE now owns 1,727 shares of the company's stock valued at $47,000 after purchasing an additional 1,658 shares during the period. KBC Group NV purchased a new position in Janux Therapeutics during the 1st quarter valued at about $66,000. FNY Investment Advisers LLC increased its holdings in Janux Therapeutics by 6,928.6% during the 1st quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock valued at $66,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Janux Therapeutics by 704.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock valued at $80,000 after acquiring an additional 3,037 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company's stock.

Janux Therapeutics Company Profile

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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