Janux Therapeutics (NASDAQ:JANX) Shares Up 6.4% – Still a Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price was up 6.4% during trading on Wednesday. The stock traded as high as $17.65 and last traded at $17.86. 306,354 shares were traded 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

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

Janux Therapeutics Price Performance

The firm has a market capitalization of $1.15 billion, a PE ratio of -11.48 and a beta of 2.40. The business’s 50-day moving average price is $17.35 and its 200-day moving average price is $15.65.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The company had revenue of $10.27 million for the quarter, compared to analysts’ expectations of $19.07 million. Equities analysts forecast that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current year.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds have recently made changes to their positions in JANX. GAMMA Investing LLC increased its position in Janux Therapeutics by 67.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $28,000 after acquiring an additional 661 shares during the period. Versant Capital Management Inc lifted its position in Janux Therapeutics by 42.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock worth $40,000 after acquiring an additional 784 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Janux Therapeutics during the 4th quarter worth approximately $51,000. Quantbot Technologies LP grew its stake in shares of Janux Therapeutics by 2,290.0% in the 2nd quarter. Quantbot Technologies LP now owns 5,497 shares of the company’s stock valued at $84,000 after purchasing an additional 5,267 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Janux Therapeutics in the second quarter valued at approximately $174,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.