Janux Therapeutics (NASDAQ:JANX) Releases Earnings Results, Misses Expectations By $0.10 EPS

Janux Therapeutics (NASDAQ:JANX) issued its earnings results on Thursday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.10), FiscalAI reports. The company had revenue of $10.27 million during the quarter, compared to the consensus estimate of $19.07 million.

Janux Therapeutics Trading Down 1.6%

Shares of JANX stock traded down $0.25 during midday trading on Friday, reaching $15.85. 689,025 shares of the stock were exchanged, compared to its average volume of 744,057. The firm has a market cap of $966.53 million, a PE ratio of -9.66 and a beta of 2.50. The company’s 50 day moving average is $15.04 and its two-hundred day moving average is $14.44. Janux Therapeutics has a 1 year low of $12.12 and a 1 year high of $35.34.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays downgraded Janux Therapeutics from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $29.00 to $14.00 in a research report on Monday, April 20th. Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a report on Friday. Wedbush decreased their price objective on shares of Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Truist Financial restated a “buy” rating and set a $26.00 target price (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Finally, Piper Sandler cut their price target on shares of Janux Therapeutics from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.58.

Insider Activity at Janux Therapeutics

In other Janux Therapeutics news, insider Janeen Noel Doyle sold 4,059 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the transaction, the insider owned 75,941 shares of the company’s stock, valued at approximately $1,065,452.23. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Maria Dobek sold 2,038 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $14.17, for a total transaction of $28,878.46. Following the sale, the vice president owned 32,270 shares in the company, valued at approximately $457,265.90. This trade represents a 5.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in Janux Therapeutics by 13.8% in the fourth quarter. Janus Henderson Group PLC now owns 5,350,453 shares of the company’s stock worth $73,850,000 after purchasing an additional 649,341 shares during the period. State Street Corp lifted its holdings in shares of Janux Therapeutics by 103.8% during the fourth quarter. State Street Corp now owns 3,853,951 shares of the company’s stock valued at $53,185,000 after purchasing an additional 1,962,486 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Janux Therapeutics by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company’s stock worth $59,074,000 after purchasing an additional 227,676 shares in the last quarter. Prosight Management LP boosted its position in shares of Janux Therapeutics by 176.5% in the 4th quarter. Prosight Management LP now owns 2,392,523 shares of the company’s stock worth $33,017,000 after purchasing an additional 1,527,173 shares in the last quarter. Finally, Orbimed Advisors LLC grew its stake in shares of Janux Therapeutics by 10.7% in the 4th quarter. Orbimed Advisors LLC now owns 1,954,426 shares of the company’s stock worth $26,971,000 after buying an additional 188,326 shares during the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Janux Therapeutics

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.