Janux Therapeutics (NASDAQ:JANX) Shares Gap Down – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $15.24, but opened at $14.68. Janux Therapeutics shares last traded at $14.77, with a volume of 182,233 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on JANX. Guggenheim reduced their price target on Janux Therapeutics from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. UBS Group lowered Janux Therapeutics from a “buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Wednesday. Barclays reduced their price target on Janux Therapeutics from $48.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Wall Street Zen raised Janux Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.09.

Janux Therapeutics Stock Performance

The firm has a fifty day simple moving average of $13.81 and a 200-day simple moving average of $18.51. The company has a market capitalization of $898.22 million, a PE ratio of -8.06 and a beta of 2.82.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Thursday, February 26th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.14. The business had revenue of $7.88 million during the quarter, compared to analyst estimates of $0.08 million. As a group, research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors have recently made changes to their positions in JANX. AQR Capital Management LLC raised its position in shares of Janux Therapeutics by 71.7% in the 1st quarter. AQR Capital Management LLC now owns 9,717 shares of the company’s stock valued at $262,000 after purchasing an additional 4,059 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Janux Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company’s stock valued at $583,000 after purchasing an additional 3,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Janux Therapeutics by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company’s stock valued at $5,033,000 after purchasing an additional 20,657 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Janux Therapeutics by 82.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,424 shares of the company’s stock valued at $5,715,000 after purchasing an additional 112,116 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Janux Therapeutics by 12.0% in the 2nd quarter. Legal & General Group Plc now owns 47,353 shares of the company’s stock valued at $1,094,000 after purchasing an additional 5,055 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

Janux Therapeutics Company Profile

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.