Janux Therapeutics (NASDAQ:JANX) Sets New 1-Year Low After Analyst Downgrade

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) reached a new 52-week low 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 changing hands. The stock had previously closed at $33.99.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reduced their target price on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Wall Street Zen raised Janux Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wolfe Research initiated coverage on Janux Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Finally, Truist Financial initiated coverage on Janux Therapeutics in a research report on Wednesday, September 10th. They issued a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Janux Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $30.00, for a total transaction of $99,990.00. Following the completion of the sale, the insider directly owned 84,974 shares in the company, valued at $2,549,220. This represents a 3.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

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

Janux Therapeutics Trading Down 53.3%

The business has a fifty day moving average of $27.15 and a 200-day moving average of $25.37. The company has a market cap of $953.98 million, a PE ratio of -9.44 and a beta of 2.82.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.21. The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, research analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current 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.