Piper Sandler Has Lowered Expectations for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX) had its price objective lowered by equities research analysts at Piper Sandler from $30.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 83.16% from the stock’s current price.

JANX has been the subject of a number of other research reports. Cantor Fitzgerald cut their target price on shares of Janux Therapeutics from $150.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Guggenheim dropped their price target on shares of Janux Therapeutics from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday. Clear Str downgraded shares of Janux Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Truist Financial upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Monday. Finally, Wedbush lowered their target price on shares of Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.83.

Janux Therapeutics Price Performance

Shares of NASDAQ JANX traded down $0.35 during trading on Friday, reaching $14.20. 272,413 shares of the stock traded hands, compared to its average volume of 1,213,634. The stock has a market capitalization of $865.33 million, a P/E ratio of -7.73 and a beta of 2.58. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34. The company has a 50-day moving average of $14.35 and a 200-day moving average of $17.45.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.13. The firm had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $4.36 million. Analysts expect that Janux Therapeutics will post -2.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of JANX. Aberdeen Group plc increased its holdings in Janux Therapeutics by 21.1% during the 3rd quarter. Aberdeen Group plc now owns 345,476 shares of the company’s stock worth $8,443,000 after acquiring an additional 60,188 shares during the period. Readystate Asset Management LP boosted its holdings in Janux Therapeutics by 38.0% in the 3rd quarter. Readystate Asset Management LP now owns 960,379 shares of the company’s stock valued at $23,472,000 after purchasing an additional 264,423 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Janux Therapeutics during the 4th quarter valued at $536,000. SG Americas Securities LLC increased its holdings in shares of Janux Therapeutics by 175.1% in the fourth quarter. SG Americas Securities LLC now owns 79,817 shares of the company’s stock worth $1,101,000 after purchasing an additional 50,802 shares during the period. Finally, Rhenman & Partners Asset Management AB increased its holdings in shares of Janux Therapeutics by 81.6% in the third quarter. Rhenman & Partners Asset Management AB now owns 100,127 shares of the company’s stock worth $2,447,000 after purchasing an additional 45,000 shares during the period. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.