Janux Therapeutics (NASDAQ:JANX) Sets New 1-Year Low – Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $11.88 and last traded at $11.9630, with a volume of 726,282 shares traded. The stock had previously closed at $12.76.

Analyst Ratings Changes

JANX has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating on shares of Janux Therapeutics in a research report on Monday, October 19th. TD Cowen raised Janux Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Wedbush raised their price target on shares of Janux Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Wolfe Research downgraded Janux Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Barclays raised their target price on Janux Therapeutics from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.92.

Janux Therapeutics Trading Up 2.9%

The stock’s fifty day moving average price is $17.13 and its 200 day moving average price is $15.39. The stock has a market cap of $758.06 million, a P/E ratio of -7.79 and a beta of 2.44.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.13. The company had revenue of $9.29 million during the quarter, compared to analysts’ expectations of $8.03 million. On average, analysts anticipate that Janux Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Janux Therapeutics during the second quarter valued at approximately $94,228,000. Bank of America Corp DE purchased a new position in Janux Therapeutics during the 2nd quarter valued at $13,985,000. Nantahala Capital Management LLC bought a new position in Janux Therapeutics in the 2nd quarter worth $12,440,279. Irenic Capital Management LP bought a new position in Janux Therapeutics in the 1st quarter worth $10,645,000. Finally, Algert Global LLC lifted its position in shares of Janux Therapeutics by 150.5% in the 2nd quarter. Algert Global LLC now owns 1,110,889 shares of the company’s stock worth $17,063,000 after purchasing an additional 667,492 shares during the period. Hedge funds and other institutional investors own 75.39% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing immunotherapies for cancer. The company’s research focuses on engaging a patient’s T cells to recognize and attack tumors. Janux’s proprietary platforms are designed to keep certain immune therapies inactive until they reach the tumor environment, with the goal of limiting activity in healthy tissues. Its clinical-stage programs include candidates directed at targets such as PSMA and EGFR, and its broader pipeline includes additional investigational cancer therapies.