Janux Therapeutics (NASDAQ:JANX) Trading Down 11.5%

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) dropped 11.5% on Wednesday . The company traded as low as $51.63 and last traded at $54.45. Approximately 664,579 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 765,020 shares. The stock had previously closed at $61.50.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JANX. Cantor Fitzgerald assumed coverage on shares of Janux Therapeutics in a research note on Wednesday, March 20th. They set an “overweight” rating and a $100.00 price target on the stock. Bank of America lifted their price target on Janux Therapeutics from $24.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. BTIG Research initiated coverage on Janux Therapeutics in a report on Thursday, March 21st. They issued a “buy” rating and a $62.00 target price for the company. Jonestrading started coverage on shares of Janux Therapeutics in a research note on Tuesday, April 16th. They set a “buy” rating and a $70.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $64.83.

Janux Therapeutics Stock Down 11.8 %

The stock’s 50-day simple moving average is $45.03 and its two-hundred day simple moving average is $22.15. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -39.96 and a beta of 3.87.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.12. The business had revenue of $2.46 million for the quarter, compared to the consensus estimate of $0.98 million. Janux Therapeutics had a negative net margin of 721.18% and a negative return on equity of 17.88%. On average, sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.41 EPS for the current year.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently made changes to their positions in JANX. Barclays PLC increased its stake in shares of Janux Therapeutics by 227.1% during the third quarter. Barclays PLC now owns 17,922 shares of the company’s stock worth $181,000 after buying an additional 12,443 shares during the period. FMR LLC increased its holdings in shares of Janux Therapeutics by 25.5% in the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock valued at $64,021,000 after acquiring an additional 1,288,526 shares during the last quarter. Old Well Partners LLC acquired a new stake in Janux Therapeutics during the third quarter worth approximately $104,000. Corton Capital Inc. purchased a new stake in shares of Janux Therapeutics during the 3rd quarter worth approximately $111,000. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $11,592,000 after buying an additional 250,000 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.