Janux Therapeutics (NASDAQ:JANX) Shares Gap Down to $64.78

Janux Therapeutics, Inc. (NASDAQ:JANX) shares gapped down before the market opened on Monday . The stock had previously closed at $64.78, but opened at $63.16. Janux Therapeutics shares last traded at $58.63, with a volume of 209,126 shares changing hands.

Analysts Set New Price Targets

JANX has been the topic of several recent analyst reports. Cantor Fitzgerald started coverage on shares of Janux Therapeutics in a research note on Wednesday, March 20th. They set an “overweight” rating and a $100.00 price objective on the stock. Jonestrading began coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They issued a “buy” rating and a $70.00 price objective for the company. BTIG Research began coverage on Janux Therapeutics in a report on Thursday, March 21st. They issued a “buy” rating and a $62.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $53.00 price objective on shares of Janux Therapeutics in a report on Monday, March 11th. Finally, Bank of America increased their target price on Janux Therapeutics from $24.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Janux Therapeutics presently has an average rating of “Buy” and a consensus target price of $61.33.

Janux Therapeutics Price Performance

The stock has a market cap of $3.22 billion, a P/E ratio of -46.41 and a beta of 3.87. The business’s fifty day moving average price is $43.85 and its 200 day moving average price is $21.37.

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

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Janux Therapeutics by 227.1% during the third quarter. Barclays PLC now owns 17,922 shares of the company’s stock valued at $181,000 after purchasing an additional 12,443 shares during the last quarter. FMR LLC raised its holdings in Janux Therapeutics by 25.5% in the third quarter. FMR LLC now owns 6,351,322 shares of the company’s stock worth $64,021,000 after buying an additional 1,288,526 shares during the last quarter. Old Well Partners LLC bought a new position in shares of Janux Therapeutics in the third quarter worth approximately $104,000. Corton Capital Inc. purchased a new stake in shares of Janux Therapeutics during the third quarter valued at approximately $111,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Janux Therapeutics by 27.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $11,592,000 after acquiring an additional 250,000 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors.

Janux Therapeutics Company Profile

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.