Janux Therapeutics (NASDAQ:JANX) Price Target Cut to $36.00 by Analysts at Wedbush

Janux Therapeutics (NASDAQ:JANX) had its target price reduced by equities researchers at Wedbush from $45.00 to $36.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 150.89% from the company’s current price.

Other research analysts also recently issued reports about the stock. Truist Financial raised shares of Janux Therapeutics to a “strong-buy” rating in a report on Monday. Guggenheim cut their price target on shares of Janux Therapeutics from $68.00 to $58.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler cut their price target on shares of Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Weiss Ratings raised shares of Janux Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Finally, Cantor Fitzgerald lowered their price target on shares of Janux Therapeutics from $150.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.17.

Janux Therapeutics Price Performance

NASDAQ:JANX traded down $0.19 during trading hours on Friday, hitting $14.35. The stock had a trading volume of 195,161 shares, compared to its average volume of 1,212,830. The company has a 50 day simple moving average of $14.35 and a two-hundred day simple moving average of $17.45. Janux Therapeutics has a one year low of $12.12 and a one year high of $35.34. The firm has a market capitalization of $874.72 million, a price-to-earnings ratio of -7.86 and a beta of 2.58.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.13. The firm had revenue of $3.73 million during the quarter, compared to the consensus estimate of $4.36 million. Equities research analysts anticipate that Janux Therapeutics will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently modified their holdings of the company. BML Capital Management LLC purchased a new position in shares of Janux Therapeutics in the first quarter valued at about $2,154,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Janux Therapeutics in the first quarter valued at about $2,452,000. Bleakley Financial Group LLC purchased a new position in shares of Janux Therapeutics in the first quarter valued at about $265,000. Hsbc Holdings PLC purchased a new position in shares of Janux Therapeutics in the first quarter valued at about $711,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Janux Therapeutics in the first quarter valued at about $1,946,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.