Janux Therapeutics (NASDAQ:JANX) Sets New 52-Week Low - Here's What Happened

Key Points

• Janux Therapeutics fell 5.1% to a new 52-week low, touching $11.88 after closing at $12.76 in the prior session.
• Analyst sentiment remains broadly positive but mixed: MarketBeat reports a consensus “Moderate Buy” rating and a $36.92 price target, alongside two Hold and two Sell ratings.
• The company’s latest quarterly results beat estimates, reporting a loss of $0.34 per share versus an expected $0.47 loss, and revenue of $9.29 million versus forecasts of $8.03 million.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) reached a new 52-week low on Tuesday. The stock traded as low as $11.88 and last traded at $11.9630, with a volume of 726,282 shares. The stock had previously closed at $12.76.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Guggenheim decreased their target price on Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, August 7th. TD Cowen raised Janux Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Wolfe Research upgraded Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 price target for the company in a report on Monday, August 24th. HC Wainwright reiterated a "buy" rating on shares of Janux Therapeutics in a report on Monday, October 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Janux Therapeutics in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Janux Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.92.

Janux Therapeutics Stock Down 5.1%

The firm has a market capitalization of $740.41 million, a price-to-earnings ratio of -7.71 and a beta of 2.44. The business has a 50-day moving average of $17.39 and a two-hundred day moving average of $15.41.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.13. The firm had revenue of $9.29 million during the quarter, compared to analyst estimates of $8.03 million. Equities analysts predict that Janux Therapeutics, Inc. will post -1.70 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtus Advisers LLC bought a new position in Janux Therapeutics during the third quarter worth about $602,000. Diversified Trust Co grew its stake in shares of Janux Therapeutics by 3.5% in the 3rd quarter. Diversified Trust Co now owns 17,429 shares of the company's stock valued at $301,000 after purchasing an additional 588 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Janux Therapeutics by 68.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 137,777 shares of the company's stock valued at $2,381,000 after purchasing an additional 56,176 shares during the period. Fulcrum Asset Management LLP grew its stake in shares of Janux Therapeutics by 3,391.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,374 shares of the company's stock valued at $40,000 after purchasing an additional 2,306 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Janux Therapeutics by 25.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 209,002 shares of the company's stock worth $3,545,000 after buying an additional 42,910 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

About Janux Therapeutics

Janux Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing immunotherapies for cancer. The company's research focuses on engaging a patient's T cells to recognize and attack tumors. Janux's proprietary platforms are designed to keep certain immune therapies inactive until they reach the tumor environment, with the goal of limiting activity in healthy tissues. Its clinical-stage programs include candidates directed at targets such as PSMA and EGFR, and its broader pipeline includes additional investigational cancer therapies.

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