Janux Therapeutics (NASDAQ:JANX) Stock Price Breaks Above 50 Day Moving Average - What's Next?

Key Points

• Janux Therapeutics shares rose above their 50-day moving average, reaching $18.07 and last trading at $18.05, compared with a 50-day average of $17.59.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $36.46, although ratings range from Strong Buy to Sell.
• The company recently missed quarterly expectations, reporting an adjusted loss of $0.35 per share versus the expected $0.25 loss and revenue of $10.27 million versus $19.07 million expected. Institutional investors own 75.39% of the shares.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $17.59 and traded as high as $18.07. Janux Therapeutics shares last traded at $18.05, with a volume of 984,134 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen upgraded Janux Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Wolfe Research upgraded 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, August 24th. HC Wainwright reissued a "buy" rating on shares of Janux Therapeutics in a report on Monday, October 19th. Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a report on Friday, August 7th. Finally, Weiss Ratings restated 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 assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Janux Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $36.46.

Janux Therapeutics Price Performance

The stock has a market cap of $1.10 billion, a PE ratio of -11.01 and a beta of 2.40. The stock has a 50-day moving average price of $17.59 and a two-hundred day moving average price of $15.29.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.10). The company had revenue of $10.27 million during the quarter, compared to the consensus estimate of $19.07 million. Equities research analysts expect that Janux Therapeutics, Inc. will post -1.70 earnings per share for the current year.

Institutional Trading of Janux Therapeutics

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Janux Therapeutics during the 2nd quarter valued at approximately $94,228,000. State Street Corp grew its holdings in shares of Janux Therapeutics by 22.0% in the second quarter. State Street Corp now owns 3,004,899 shares of the company's stock valued at $46,155,000 after purchasing an additional 540,882 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Janux Therapeutics by 2.9% in the second quarter. Alyeska Investment Group L.P. now owns 1,647,140 shares of the company's stock valued at $25,300,000 after purchasing an additional 46,051 shares in the last quarter. Algert Global LLC increased its position in Janux Therapeutics by 150.5% in the second quarter. Algert Global LLC now owns 1,110,889 shares of the company's stock worth $17,063,000 after purchasing an additional 667,492 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Janux Therapeutics in the second quarter worth $13,985,000. Institutional investors own 75.39% of the company's stock.

About Janux Therapeutics

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company developing immune-based medicines for the treatment of cancer and autoimmune diseases. The company's research is focused on designing therapies that selectively activate the immune system in diseased tissue while limiting activity in healthy tissue.

Janux's proprietary technology platform is designed to create tumor-activated T-cell engager therapies and other immunomodulators. These medicines are engineered to remain relatively inactive in the circulation and become activated in the tumor microenvironment, with the goal of improving the therapeutic window of immune therapies.

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