Janux Therapeutics (NASDAQ:JANX) Stock Price Down 23.4% – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price dropped 23.4% during mid-day trading on Monday. The stock traded as low as $12.43 and last traded at $13.5020. Approximately 567,903 shares changed hands during trading, a decline of 46% from the average daily volume of 1,053,373 shares. The stock had previously closed at $17.63.

Analysts Set New Price Targets

JANX has been the subject of a number of research reports. Guggenheim reduced their target price on shares of Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a report on Friday, August 7th. TD Cowen raised Janux Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Wolfe Research raised Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Monday, August 24th. HC Wainwright reiterated a “buy” rating on shares of Janux Therapeutics in a research note on Monday, October 19th. Finally, Stifel Nicolaus set a $35.00 target price on Janux Therapeutics in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Janux Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $36.92.

Janux Therapeutics Stock Down 22.6%

The company’s fifty day moving average price is $17.49 and its two-hundred day moving average price is $15.42. The firm has a market cap of $833.97 million, a PE ratio of -8.63 and a beta of 2.44.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.13. The firm had revenue of $9.29 million for the quarter, compared to analysts’ expectations of $8.03 million. As a group, analysts predict that Janux Therapeutics, Inc. will post -1.70 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co raised its stake in shares of Janux Therapeutics by 3.5% during the 3rd quarter. Diversified Trust Co now owns 17,429 shares of the company’s stock worth $301,000 after buying an additional 588 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Janux Therapeutics by 68.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 137,777 shares of the company’s stock valued at $2,381,000 after buying an additional 56,176 shares during the period. Fulcrum Asset Management LLP boosted its stake in shares of Janux Therapeutics by 3,391.2% in the third quarter. Fulcrum Asset Management LLP now owns 2,374 shares of the company’s stock valued at $40,000 after buying an additional 2,306 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Janux Therapeutics by 25.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 209,002 shares of the company’s stock valued at $3,545,000 after buying an additional 42,910 shares in the last quarter. Finally, CenterBook Partners LP grew its holdings in Janux Therapeutics by 39.1% during the third quarter. CenterBook Partners LP now owns 39,656 shares of the company’s stock worth $685,000 after acquiring an additional 11,154 shares during the period. 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 developing immune-based medicines for the treatment of cancer and autoimmune diseases. The company’s research is focused on designing therapies that selectively activate the immune system in diseased tissue while limiting activity in healthy tissue.

Janux’s proprietary technology platform is designed to create tumor-activated T-cell engager therapies and other immunomodulators. These medicines are engineered to remain relatively inactive in the circulation and become activated in the tumor microenvironment, with the goal of improving the therapeutic window of immune therapies.