Janux Therapeutics (NASDAQ:JANX) Stock Price Down 7.2% - Here's What Happened

Key Points

• Janux Therapeutics shares fell 7.2% to about $17.94, with trading volume down 76% from the stock’s average daily volume.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $36.46 price target, although Truist sharply reduced its target from $80 to $26.
• The company missed quarterly expectations, reporting an adjusted loss of $0.35 per share versus a projected $0.25 loss and revenue of $10.27 million versus the $19.07 million consensus estimate.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s stock price was down 7.2% during trading on Thursday . The stock traded as low as $18.24 and last traded at $17.9370. Approximately 265,496 shares traded hands during trading, a decline of 76% from the average daily volume of 1,103,910 shares. The stock had previously closed at $19.33.

Wall Street Analysts Forecast Growth

JANX has been the topic of several research reports. Truist Financial restated a "buy" rating and issued a $26.00 target price (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. TD Cowen raised Janux Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Janux Therapeutics in a report on Monday, July 20th. Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a research note on Friday, August 7th. Finally, Wolfe Research upgraded shares of Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 target price for the company in a research report on Monday, August 24th. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.46.

Janux Therapeutics Stock Performance

The firm's 50-day moving average price is $16.87 and its two-hundred day moving average price is $15.18. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -10.97 and a beta of 2.53.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued 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 business had revenue of $10.27 million for the quarter, compared to the consensus estimate of $19.07 million. As a group, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Janux Therapeutics during the fourth quarter valued at about $34,000. Versant Capital Management Inc boosted its position in shares of Janux Therapeutics by 42.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,615 shares of the company's stock worth $40,000 after purchasing an additional 784 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Janux Therapeutics during the 4th quarter worth approximately $51,000. Osaic Holdings Inc. increased its holdings in Janux Therapeutics by 704.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock valued at $80,000 after purchasing an additional 3,037 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Janux Therapeutics by 2,290.0% in the 2nd quarter. Quantbot Technologies LP now owns 5,497 shares of the company's stock valued at $84,000 after purchasing an additional 5,267 shares during the last quarter. Institutional investors and hedge funds 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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