Janux Therapeutics (NASDAQ:JANX) Trading Down 4.1%

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) dropped 4.1% during mid-day trading on Wednesday . The stock traded as low as $48.00 and last traded at $48.46. Approximately 288,929 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 755,735 shares. The stock had previously closed at $50.55.

Analyst Ratings Changes

JANX has been the subject of several recent research reports. Bank of America boosted their price target on Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Jonestrading started coverage on shares of Janux Therapeutics in a research report on Tuesday. They set a “buy” rating and a $70.00 price objective for the company. Cantor Fitzgerald started coverage on shares of Janux Therapeutics in a research report on Wednesday, March 20th. They set an “overweight” rating and a $100.00 price objective for the company. Wedbush restated an “outperform” rating and set a $53.00 price objective on shares of Janux Therapeutics in a research report on Monday, March 11th. Finally, William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $61.33.

Janux Therapeutics Stock Performance

The firm’s fifty day moving average price is $34.41 and its 200-day moving average price is $17.82.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in Janux Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,690 shares of the company’s stock worth $628,000 after purchasing an additional 1,127 shares during the last quarter. Rhumbline Advisers raised its position in Janux Therapeutics by 4.5% during the 1st quarter. Rhumbline Advisers now owns 26,849 shares of the company’s stock worth $325,000 after purchasing an additional 1,158 shares during the last quarter. State of Wisconsin Investment Board raised its position in Janux Therapeutics by 14.3% during the 2nd quarter. State of Wisconsin Investment Board now owns 13,202 shares of the company’s stock worth $157,000 after purchasing an additional 1,647 shares during the last quarter. American International Group Inc. raised its position in Janux Therapeutics by 25.3% during the 1st quarter. American International Group Inc. now owns 8,813 shares of the company’s stock worth $126,000 after purchasing an additional 1,782 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Janux Therapeutics by 149.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,344 shares of the company’s stock worth $40,000 after acquiring an additional 2,003 shares in the last quarter. 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.