Janux Therapeutics, Inc. (JANX) Surges 5.9%: Is This an Indication of Further Gains?

Janux Therapeutics, Inc. (JANX) shares ended the last trading session 5.9% higher at $19.50. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.5% loss over the past four weeks.

The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. Currently, the company has only one candidate in clinical studies, JANX007, which is being evaluated in a phase I study to treat patients with prostrate cancer. The first participant was dosed in October 2022.



This company is expected to post quarterly loss of $0.45 per share in its upcoming report, which represents a year-over-year change of -36.4%. Revenues are expected to be $1.69 million, up 4.3% 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, Intellia Therapeutics, Inc. (NTLA), finished the last trading session 3.4% higher at $41.32. NTLA has returned 6.2% over the past month.

For Intellia Therapeutics, Inc., the consensus EPS estimate for the upcoming report has changed +0.8% over the past month to -$1.40. This represents a change of -28.4% from what the company reported a year ago. Intellia Therapeutics, Inc. currently has a Zacks Rank of #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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