Janux Therapeutics (NASDAQ:JANX) Shares Down 11.5%

Janux Therapeutics, Inc. (NASDAQ:JANX) dropped 11.5% during mid-day trading on Wednesday . The company traded as low as $51.63 and last traded at $54.45. Approximately 664,579 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 765,020 shares. The stock had previously closed at $61.50.

Wall Street Analysts Forecast Growth

JANX has been the subject of several recent research reports. BTIG Research began coverage on shares of Janux Therapeutics in a research report on Thursday, March 21st. They issued a “buy” rating and a $62.00 price target for the company. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, February 27th. Wedbush lifted their price objective on Janux Therapeutics from $53.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald started coverage on shares of Janux Therapeutics in a report on Wednesday, March 20th. They set an “overweight” rating and a $100.00 price target for the company. Finally, Jonestrading assumed coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They set a “buy” rating and a $70.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $64.83.

Janux Therapeutics Stock Performance

The company has a market cap of $2.81 billion, a P/E ratio of -39.96 and a beta of 3.87. The firm’s 50 day moving average price is $45.03 and its two-hundred day moving average price is $22.15.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Friday, March 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.12. The firm had revenue of $2.46 million during the quarter, compared to the consensus estimate of $0.98 million. Janux Therapeutics had a negative net margin of 721.18% and a negative return on equity of 17.88%. As a group, analysts forecast that Janux Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Janux Therapeutics by 10,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after purchasing an additional 2,685 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Janux Therapeutics during the fourth quarter valued at about $57,000. SG Americas Securities LLC bought a new stake in shares of Janux Therapeutics during the fourth quarter worth about $100,000. Old Well Partners LLC bought a new position in Janux Therapeutics in the 3rd quarter valued at about $104,000. Finally, Corton Capital Inc. bought a new stake in Janux Therapeutics during the 3rd quarter worth approximately $111,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.