Short Interest in Janux Therapeutics, Inc. (NASDAQ:JANX) Decreases By 22.7%

Key Points

• Short interest fell 22.7% in March to 7,744,629 shares, equal to 13.9% of shares sold short and a days-to-cover ratio of about 5.5.
• Analysts show a consensus "Moderate Buy" (11 Buy, 2 Hold, 1 Sell) with an average price target of $56.91, despite several recent price-target cuts by major firms.
• Janux beat the latest quarter (EPS -$0.51 vs. -$0.65 expected; revenue $7.88M vs. $0.08M expected), trades around $15.24 with a market cap near $927M and a negative P/E, and institutions own roughly 75% of the shares.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 7,744,629 shares, a drop of 22.7% from the March 15th total of 10,020,131 shares. Currently, 13.9% of the company's shares are sold short. Based on an average trading volume of 1,405,554 shares, the days-to-cover ratio is presently 5.5 days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JANX shares. Piper Sandler reduced their price target on Janux Therapeutics from $42.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday, January 16th. Barclays lowered their price objective on Janux Therapeutics from $48.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Janux Therapeutics in a research note on Thursday, January 22nd. Cantor Fitzgerald reduced their target price on Janux Therapeutics from $150.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, February 27th. Finally, Guggenheim decreased their price target on Janux Therapeutics from $72.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $56.91.

Janux Therapeutics Trading Up 2.3%

Shares of JANX opened at $15.24 on Wednesday. Janux Therapeutics has a twelve month low of $12.12 and a twelve month high of $35.34. The firm has a market capitalization of $927.05 million, a P/E ratio of -8.33 and a beta of 2.82. The stock's fifty day simple moving average is $13.81 and its 200 day simple moving average is $18.51.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.65) by $0.14. The firm had revenue of $7.88 million for the quarter, compared to analysts' expectations of $0.08 million. Sell-side analysts predict that Janux Therapeutics will post -1.38 earnings per share for the current year.

Institutional Trading of Janux Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Nano Cap New Millennium Growth Fund L P purchased a new position in Janux Therapeutics in the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd purchased a new stake in Janux Therapeutics during the fourth quarter worth approximately $51,000. Osaic Holdings Inc. increased its position in shares of Janux Therapeutics by 704.6% in the second quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock worth $80,000 after acquiring an additional 3,037 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Janux Therapeutics by 175.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company's stock worth $91,000 after acquiring an additional 2,502 shares in the last quarter. Finally, Winthrop Capital Management LLC purchased a new position in shares of Janux Therapeutics in the 3rd quarter valued at $106,000. Institutional investors and hedge funds own 75.39% of the company's stock.

About Janux Therapeutics

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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