Janux Therapeutics (NASDAQ:JANX) Trading Down 7.2% – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX) shares fell 7.2% on Thursday . The stock traded as low as $18.24 and last traded at $17.9370. 265,496 shares traded hands during trading, a decline of 76% from the average daily volume of 1,103,910 shares. The stock had previously closed at $19.33.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Guggenheim dropped their target price on shares of Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Truist Financial reissued a “buy” rating and issued a $26.00 price objective (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. Wolfe Research raised Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Monday, August 24th. Stifel Nicolaus set a $35.00 target price on Janux Therapeutics in a research report on Friday, August 7th. Finally, TD Cowen raised Janux Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.46.

Janux Therapeutics Price Performance

The company has a fifty day moving average price of $16.95 and a 200 day moving average price of $15.23. The stock has a market cap of $1.05 billion, a P/E ratio of -10.43 and a beta of 2.53.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). The company had revenue of $10.27 million during the quarter, compared to the consensus estimate of $19.07 million. As a group, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Janux Therapeutics in the 4th quarter worth about $34,000. Versant Capital Management Inc boosted its stake in Janux Therapeutics by 42.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock valued at $40,000 after purchasing an additional 784 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Janux Therapeutics during the 4th quarter worth approximately $51,000. Osaic Holdings Inc. increased its holdings in 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 purchasing an additional 3,037 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Janux Therapeutics by 2,290.0% in the second quarter. Quantbot Technologies LP now owns 5,497 shares of the company’s stock worth $84,000 after purchasing an additional 5,267 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Company Profile

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.