Janux Therapeutics (NASDAQ:JANX) Stock Price Down 11.5%

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

Wall Street Analysts Forecast Growth

JANX has been the topic of several research reports. Wedbush lifted their price target on shares of Janux Therapeutics from $53.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America raised their price objective on Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. BTIG Research initiated coverage on Janux Therapeutics in a research note on Thursday, March 21st. They issued a “buy” rating and a $62.00 target price for the company. Jonestrading began coverage on Janux Therapeutics in a research report on Tuesday, April 16th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, February 27th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $64.83.

Janux Therapeutics Stock Up 2.2 %

The firm’s fifty day moving average is $45.27 and its two-hundred day moving average is $22.59. The firm has a market cap of $2.75 billion, a P/E ratio of -38.76 and a beta of 3.87.

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

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC increased its position in shares of Janux Therapeutics by 227.1% during the 3rd quarter. Barclays PLC now owns 17,922 shares of the company’s stock valued at $181,000 after purchasing an additional 12,443 shares during the last quarter. FMR LLC boosted its stake in shares of Janux Therapeutics by 25.5% during the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock worth $64,021,000 after acquiring an additional 1,288,526 shares during the last quarter. Old Well Partners LLC bought a new stake in shares of Janux Therapeutics during the 3rd quarter valued at $104,000. Corton Capital Inc. purchased a new stake in shares of Janux Therapeutics in the 3rd quarter worth $111,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $11,592,000 after purchasing an additional 250,000 shares during the period. 75.39% of the stock is owned by institutional investors.

About Janux Therapeutics

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.