Janux Therapeutics (NASDAQ:JANX) Shares Down 4.1%

Janux Therapeutics, Inc. (NASDAQ:JANX) shares traded down 4.1% during mid-day trading on Wednesday . The stock traded as low as $48.00 and last traded at $48.46. 288,929 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 755,735 shares. The stock had previously closed at $50.55.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America boosted their target price on Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Jonestrading began coverage on Janux Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $70.00 price target for the company. Cantor Fitzgerald began coverage on Janux Therapeutics in a research report on Wednesday, March 20th. They set an “overweight” rating and a $100.00 target price for the company. BTIG Research began coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a “buy” rating and a $62.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $53.00 target price on shares of Janux Therapeutics in a research report on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $61.33.

Janux Therapeutics Stock Down 5.9 %

The business’s 50 day moving average is $32.84 and its 200 day moving average is $17.39.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.12. The company had revenue of $2.46 million during 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, analysts forecast that Janux Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. boosted its holdings in Janux Therapeutics by 5.7% in the third quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company’s stock valued at $92,390,000 after purchasing an additional 495,008 shares during the last quarter. FMR LLC boosted its stake in shares of Janux Therapeutics by 25.5% during the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock worth $64,021,000 after acquiring an additional 1,288,526 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Janux Therapeutics by 3.5% during the 3rd quarter. BlackRock Inc. now owns 1,250,348 shares of the company’s stock worth $16,929,000 after acquiring an additional 41,994 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in 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 in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Janux Therapeutics by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 979,483 shares of the company’s stock valued at $10,510,000 after buying an additional 37,202 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.