Janux Therapeutics (NASDAQ:JANX) Sets New 12-Month Low After Analyst Downgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) reached a new 52-week low during trading on Tuesday after Bank of America lowered their price target on the stock from $58.00 to $49.00. Bank of America currently has a buy rating on the stock. Janux Therapeutics traded as low as $16.70 and last traded at $17.3350, with a volume of 4093035 shares trading hands. The stock had previously closed at $33.99.

A number of other brokerages have also weighed in on JANX. Stifel Nicolaus lowered their price objective on Janux Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday. Wall Street Zen upgraded shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler started coverage on Janux Therapeutics in a report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Finally, Wolfe Research assumed coverage on Janux Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.67.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,333 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $32.98, for a total transaction of $109,922.34. Following the sale, the insider owned 84,974 shares in the company, valued at approximately $2,802,442.52. This represents a 3.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 23,331 shares of company stock valued at $710,862. 8.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Janux Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quinn Opportunity Partners LLC grew its holdings in shares of Janux Therapeutics by 15.4% during the second quarter. Quinn Opportunity Partners LLC now owns 59,893 shares of the company’s stock worth $1,384,000 after buying an additional 8,000 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Janux Therapeutics by 88.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 75,860 shares of the company’s stock worth $2,048,000 after acquiring an additional 35,511 shares during the period. Geode Capital Management LLC grew its stake in Janux Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 902,312 shares of the company’s stock worth $20,845,000 after acquiring an additional 121,403 shares during the period. AlphaQuest LLC raised its holdings in Janux Therapeutics by 3,658.9% in the 2nd quarter. AlphaQuest LLC now owns 9,698 shares of the company’s stock valued at $224,000 after acquiring an additional 9,440 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Janux Therapeutics by 7.2% during the 1st quarter. Deutsche Bank AG now owns 99,691 shares of the company’s stock worth $2,692,000 after purchasing an additional 6,662 shares during the period. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Stock Up 7.9%

The firm has a fifty day moving average price of $27.03 and a 200-day moving average price of $25.31. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -10.18 and a beta of 2.82.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to analyst estimates of $3.07 million. Equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Janux Therapeutics Company Profile

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.