Janux Therapeutics, Inc. (NASDAQ:JANX) Sees Significant Decline in Short Interest

Janux Therapeutics, Inc. (NASDAQ:JANX) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 7,744,629 shares, a decline of 22.7% from the March 15th total of 10,020,131 shares. Approximately 13.9% of the shares of the company are sold short. Based on an average daily volume of 1,405,554 shares, the days-to-cover ratio is currently 5.5 days.

Janux Therapeutics Stock Up 4.1%

Shares of NASDAQ:JANX traded up $0.63 during trading on Friday, reaching $15.82. 1,148,166 shares of the company traded hands, compared to its average volume of 1,129,798. The company’s 50 day moving average is $13.96 and its two-hundred day moving average is $18.41. The firm has a market capitalization of $962.33 million, a PE ratio of -8.64 and a beta of 2.82. Janux Therapeutics has a 52 week low of $12.12 and a 52 week high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.14. The business had revenue of $7.88 million for the quarter, compared to the consensus estimate of $0.08 million. As a group, research analysts anticipate that Janux Therapeutics will post -1.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Janux Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Piper Sandler cut their target price on Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Thursday, January 22nd. Cantor Fitzgerald cut their target price on Janux Therapeutics from $150.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, UBS Group downgraded Janux Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $57.00 to $15.00 in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.09.

Institutional Trading of Janux Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of JANX. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Janux Therapeutics during the 4th quarter worth $34,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Janux Therapeutics during the 4th quarter worth $51,000. Osaic Holdings Inc. lifted its position in shares of Janux Therapeutics by 704.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock worth $80,000 after buying an additional 3,037 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Janux Therapeutics by 175.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock worth $91,000 after buying an additional 2,502 shares during the last quarter. Finally, Winthrop Capital Management LLC bought a new stake in shares of Janux Therapeutics during the 3rd quarter worth $106,000. 75.39% of the stock is currently owned by institutional investors.

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.