Janux Therapeutics (NASDAQ:JANX) Stock Price Up 6.4% - Still a Buy?

Key Points

• Janux Therapeutics shares rose 6.4% to $17.86, with trading volume significantly below its average. The stock’s market capitalization is approximately $1.10 billion, and its beta of 2.40 indicates high volatility.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $36.46—more than double the recent share price. However, ratings range from “Strong Buy” to “Sell,” and some analysts have recently lowered their targets.
• The company missed quarterly expectations, reporting a loss of $0.35 per share versus the expected $0.25 loss and revenue of $10.27 million versus $19.07 million estimated. Janux remains a clinical-stage biotech developing tumor-targeted cancer immunotherapies, with 75.39% of shares held by institutions and hedge funds.

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) rose 6.4% on Wednesday. The stock traded as high as $17.65 and last traded at $17.86. 306,354 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,085,469 shares. The stock had previously closed at $16.79.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen raised Janux Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Stifel Nicolaus set a $35.00 price objective on Janux Therapeutics in a report on Friday, August 7th. Truist Financial restated a "buy" rating and set a $26.00 target price (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Janux Therapeutics in a research note on Monday, July 20th. Finally, Wolfe Research upgraded shares of 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.46.

Janux Therapeutics Price Performance

The stock's 50 day moving average is $17.24 and its two-hundred day moving average is $15.60. The firm has a market cap of $1.10 billion, a P/E ratio of -10.98 and a beta of 2.40.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.10). The firm had revenue of $10.27 million during the quarter, compared to analyst estimates of $19.07 million. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of Janux Therapeutics by 42.8% during the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company's stock worth $40,000 after purchasing an additional 784 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Janux Therapeutics in the fourth quarter worth about $51,000. Quantbot Technologies LP raised its holdings in Janux Therapeutics by 2,290.0% during the 2nd quarter. Quantbot Technologies LP now owns 5,497 shares of the company's stock worth $84,000 after buying an additional 5,267 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Janux Therapeutics during the second quarter worth $174,000. Finally, Aristides Capital LLC bought a new position in Janux Therapeutics during the 4th quarter worth about $181,000. 75.39% of the stock is owned by institutional investors and hedge funds.

About Janux Therapeutics

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company based in San Diego, California, developing cancer immunotherapies designed to activate the immune system selectively within the tumor microenvironment. The company's technology is intended to direct T cells toward cancer cells while limiting activation in healthy tissues.

Janux's core technology platform, known as TRACTr, uses conditionally activated T-cell engager molecules designed to remain masked in circulation and become activated by proteases that are more prevalent in tumors.

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