Janux Therapeutics (NASDAQ:JANX) Announces Earnings Results

Janux Therapeutics (NASDAQ:JANX) posted its earnings results on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.10), FiscalAI reports. The business had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $19.07 million.

Janux Therapeutics Stock Performance

Janux Therapeutics stock traded down $0.25 during midday trading on Friday, hitting $15.85. 689,025 shares of the company’s stock were exchanged, compared to its average volume of 744,057. The company has a market cap of $966.53 million, a P/E ratio of -9.66 and a beta of 2.50. The stock has a 50-day moving average price of $15.04 and a two-hundred day moving average price of $14.44. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, insider Janeen Noel Doyle sold 4,059 shares of Janux Therapeutics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the sale, the insider directly owned 75,941 shares in the company, valued at $1,065,452.23. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Maria Dobek sold 2,038 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $14.17, for a total transaction of $28,878.46. Following the completion of the transaction, the vice president directly owned 32,270 shares of the company’s stock, valued at approximately $457,265.90. This represents a 5.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Janux Therapeutics by 103.8% during the fourth quarter. State Street Corp now owns 3,853,951 shares of the company’s stock worth $53,185,000 after acquiring an additional 1,962,486 shares in the last quarter. Prosight Management LP boosted its stake in shares of Janux Therapeutics by 176.5% in the 4th quarter. Prosight Management LP now owns 2,392,523 shares of the company’s stock valued at $33,017,000 after purchasing an additional 1,527,173 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Janux Therapeutics by 129.5% during the 4th quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company’s stock valued at $22,221,000 after purchasing an additional 908,582 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Janux Therapeutics during the 4th quarter valued at $12,221,000. Finally, Alyeska Investment Group L.P. raised its position in Janux Therapeutics by 206.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,301,089 shares of the company’s stock worth $17,955,000 after purchasing an additional 876,244 shares during the period. Institutional investors own 75.39% of the company’s stock.

Analyst Ratings Changes

JANX has been the subject of several recent research reports. UBS Group cut Janux Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $15.00 in a research report on Wednesday, April 15th. Guggenheim cut their target price on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus set a $35.00 target price on Janux Therapeutics in a report on Friday. JonesTrading decreased their price target on Janux Therapeutics from $50.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Wedbush cut their price objective on shares of Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $37.58.

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.