Janux Therapeutics (NASDAQ:JANX) Trading Down 7% - Time to Sell?

Key Points

• Janux Therapeutics shares fell 7% during trading, closing at $24.50, following a decrease in trading volume to 484,192 shares, down 47% from the average.
• Analysts have set price targets for Janux Therapeutics ranging from $45.00 to $72.00, with a consensus target price of $78.31 reflecting a "Moderate Buy" rating.
• The company is in Phase 1 trials for two cancer treatments, JANX007 for metastatic castration-resistant prostate cancer and JANX008 targeting multiple solid cancers.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shares fell 7% during trading on Thursday . The stock traded as low as $24.83 and last traded at $24.50. 484,192 shares were traded during mid-day trading, a decline of 47% from the average session volume of 911,118 shares. The stock had previously closed at $26.34.

Analysts Set New Price Targets

Several research firms recently commented on JANX. Barclays began coverage on shares of Janux Therapeutics in a report on Wednesday, September 17th. They issued an "overweight" rating and a $47.00 price objective for the company. Stifel Nicolaus restated a "buy" rating and set a $45.00 price target on shares of Janux Therapeutics in a research report on Wednesday, September 10th. Raymond James Financial assumed coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They set an "outperform" rating and a $65.00 price target for the company. Guggenheim assumed coverage on shares of Janux Therapeutics in a research report on Wednesday, September 3rd. They set a "buy" rating and a $72.00 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Janux Therapeutics in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.31.

Janux Therapeutics Trading Down 7.0%

The company has a market capitalization of $1.47 billion, a P/E ratio of -13.70 and a beta of 2.82. The business's fifty day moving average price is $24.32 and its 200-day moving average price is $25.29.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.07). As a group, equities research analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently added to or reduced their stakes in JANX. RA Capital Management L.P. lifted its stake in Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company's stock worth $302,122,000 after purchasing an additional 824,041 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Janux Therapeutics by 19.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company's stock valued at $98,673,000 after acquiring an additional 592,824 shares during the period. Orbimed Advisors LLC increased its position in shares of Janux Therapeutics by 59.6% in the second quarter. Orbimed Advisors LLC now owns 1,210,300 shares of the company's stock valued at $27,958,000 after acquiring an additional 451,734 shares during the period. First Light Asset Management LLC increased its position in shares of Janux Therapeutics by 110.0% in the first quarter. First Light Asset Management LLC now owns 658,824 shares of the company's stock valued at $17,788,000 after acquiring an additional 345,042 shares during the period. Finally, MPM Bioimpact LLC increased its position in shares of Janux Therapeutics by 146.6% in the first quarter. MPM Bioimpact LLC now owns 567,193 shares of the company's stock valued at $15,314,000 after acquiring an additional 337,193 shares during the period. 75.39% of the stock is owned by institutional investors.

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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