JonesTrading Has Lowered Expectations for Janux Therapeutics (NASDAQ:JANX) Stock Price

Key Points

• JonesTrading cut its price target for Janux from $50 to $28 but kept a "buy" rating, with the new target implying roughly a 93% upside from the current share price.
• Analyst coverage is mixed but leans positive: 10 Buys, 3 Holds and 2 Sells yield a consensus "Moderate Buy" and a consensus price target of $49.75.
• JANX trades around $14.48 (market cap ≈ $881M) after reporting an EPS of -$0.51 that beat estimates and revenue of $7.88M, and roughly 75% of shares are held by institutions.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) had its price objective reduced by analysts at JonesTrading from $50.00 to $28.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. JonesTrading's price objective points to a potential upside of 93.37% from the stock's current price.

Several other brokerages have also issued reports on JANX. Piper Sandler cut their target price on shares of Janux Therapeutics from $42.00 to $30.00 and set an "overweight" rating for the company in a research report on Friday, January 16th. Weiss Ratings raised Janux Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, April 22nd. Clear Str cut Janux Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. UBS Group cut Janux Therapeutics from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $57.00 to $15.00 in a report on Wednesday, April 15th. Finally, Guggenheim decreased their price objective on Janux Therapeutics from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.75.

Janux Therapeutics Stock Performance

JANX traded down $0.75 on Tuesday, reaching $14.48. The company had a trading volume of 648,896 shares, compared to its average volume of 1,249,552. The business has a 50 day simple moving average of $14.22 and a 200 day simple moving average of $17.97. The company has a market cap of $880.85 million, a price-to-earnings ratio of -7.89 and a beta of 2.82. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.14. The company had revenue of $7.88 million during the quarter, compared to analysts' expectations of $0.08 million. As a group, equities research analysts predict that Janux Therapeutics will post -2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Janux Therapeutics during the first quarter valued at approximately $1,946,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Janux Therapeutics during the fourth quarter valued at approximately $51,000. Aristides Capital LLC purchased a new stake in shares of Janux Therapeutics during the fourth quarter valued at approximately $181,000. Invesco Ltd. boosted its stake in shares of Janux Therapeutics by 15.7% during the fourth quarter. Invesco Ltd. now owns 28,322 shares of the company's stock valued at $391,000 after purchasing an additional 3,853 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Janux Therapeutics during the fourth quarter valued at approximately $2,228,000. Hedge funds and other 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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