Janux Therapeutics, Inc. (JANX) Moves 5.6% Higher: Will This Strength Last?
Janux Therapeutics, Inc. JANX shares soared 5.6% in the last trading session to close at $9.96. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.4% loss over the past four weeks.
This rise can be attributed to positive expectations by the investors for the company’s pipeline. The most advanced candidates in the company’s pipeline are JANX007 and JANX008 which are being evaluated in early-stage clinical studies for prostate cancer and solid tumors, respectively. Management intends to hold a virtual event on Feb 26 to discuss updated clinical data on both candidates.
This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +5.1%. Revenues are expected to be $0.98 million, down 65.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Janux Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on JANX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Janux Therapeutics, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Viridian Therapeutics, Inc. VRDN, finished the last trading session 3.4% higher at $19.23. VRDN has returned -7.1% over the past month.
Viridian Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed +3.1% over the past month to -$1.08. Compared to the company's year-ago EPS, this represents a change of +4.4%. Viridian Therapeutics, Inc. currently boasts a Zacks Rank of #2 (Buy).
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