Janux Therapeutics (NASDAQ:JANX) Shares Gap Up to $43.71

Janux Therapeutics, Inc. (NASDAQ:JANX) gapped up prior to trading on Friday . The stock had previously closed at $43.71, but opened at $44.68. Janux Therapeutics shares last traded at $43.38, with a volume of 36,009 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JANX shares. Stifel Nicolaus started coverage on Janux Therapeutics in a research note on Friday. They issued a “buy” rating and a $70.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a research note on Monday, August 19th. Scotiabank dropped their price objective on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.13.

Janux Therapeutics Stock Down 5.6 %

The company has a fifty day simple moving average of $42.19 and a 200-day simple moving average of $43.32. The firm has a market cap of $2.14 billion, a P/E ratio of -33.82 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $8.90 million for the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. Janux Therapeutics’s quarterly revenue was up 709.1% compared to the same quarter last year. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.17 EPS for the current year.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in Janux Therapeutics during the 2nd quarter worth $29,000. Amalgamated Bank lifted its position in Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares during the period. Plato Investment Management Ltd acquired a new stake in Janux Therapeutics during the 2nd quarter worth about $42,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Janux Therapeutics in the 2nd quarter valued at about $151,000. Finally, AQR Capital Management LLC acquired a new position in shares of Janux Therapeutics in the 2nd quarter valued at about $215,000. 75.39% of the stock is currently owned by hedge funds and other 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.