Janux Therapeutics (NASDAQ:JANX) Shares Climb 6.4% – Should You Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX) shot up 6.4% during trading on Wednesday. The stock traded as high as $17.65 and last traded at $17.86. 306,354 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,085,469 shares. The stock had previously closed at $16.79.

Analyst Ratings Changes

A number of research analysts have recently commented on JANX shares. Stifel Nicolaus set a $35.00 price objective on shares of Janux Therapeutics in a research report on Friday, August 7th. Truist Financial reissued a “buy” rating and set a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Monday, July 20th. Guggenheim cut their price target on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, TD Cowen raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.46.

Janux Therapeutics Stock Performance

The stock’s fifty day simple moving average is $17.24 and its 200-day simple moving average is $15.60. The stock has a market cap of $1.10 billion, a P/E ratio of -10.98 and a beta of 2.40.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). The business had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $19.07 million. As a group, equities research analysts forecast that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Janux Therapeutics in the 2nd quarter valued at $94,228,000. State Street Corp grew its holdings in shares of Janux Therapeutics by 22.0% during the 2nd quarter. State Street Corp now owns 3,004,899 shares of the company’s stock valued at $46,155,000 after purchasing an additional 540,882 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in Janux Therapeutics by 2.9% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,647,140 shares of the company’s stock valued at $25,300,000 after purchasing an additional 46,051 shares during the last quarter. Algert Global LLC increased its holdings in shares of Janux Therapeutics by 150.5% during the second quarter. Algert Global LLC now owns 1,110,889 shares of the company’s stock worth $17,063,000 after buying an additional 667,492 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Janux Therapeutics in the 2nd quarter valued at $13,985,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company based in San Diego, California, developing cancer immunotherapies designed to activate the immune system selectively within the tumor microenvironment. The company’s technology is intended to direct T cells toward cancer cells while limiting activation in healthy tissues.

Janux’s core technology platform, known as TRACTr, uses conditionally activated T-cell engager molecules designed to remain masked in circulation and become activated by proteases that are more prevalent in tumors.