Janux Therapeutics Stock (NASDAQ:JANX), Trade Ideas

Janux Therapeutics

Janux Therapeutics Inc is a clinical-stage biopharmaceutical company developing next-generation therapeutics based on proprietary tumor activated T Cell Engager platform technology to treat patients suffering from cancer.

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Shares of  Fastenal Company (NASDAQ: FAST) fell sharply during Thursday’s session following worse-than-expected first-quarter financial results.

Why Fastenal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

Cancer-Image by PDPics from Pixabay-

Biotech

Health Care

Rumors

General

Janux Therapeutics may be up for sale amid interest from major pharmaceutical firms. With shares quadrupling this year and a successful equity offering, Janux is making waves in the industry. The pharmaceutical industry has seen a surge in deal activities, with acquisitions totaling $27.8 billion since the year&#39;s start.

Why Is Cancer-Focused Janux Therapeutics Stock Trading Higher On Thursday?

ALTI

FVRR

NEXN

U.S. stocks were mixed, with the Dow Jones index falling over 50 points on Thursday.

Shares of  Enliven Therapeutics, Inc. (NASDAQ: ELVN) rose sharply during Thursday’s session.

Enliven Therapeutics, Alpine Immune Sciences, Janux Therapeutics And Other Big Stocks Moving Higher On Thursday

Janux Therapeutics Inc

<p>Goldman Sachs  analyst Toshiya Hari   maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Sell and lowers the price target from $39 to $34.</p>


Price Target

Analyst Ratings

INTC

Goldman Sachs Maintains Sell on Intel, Lowers Price Target to $34

WIIM

CHTR

Charter Communications shares are trading lower after the company reported worse-than-expected Q1 results.

<p>DA Davidson   initiates coverage on NAPCO Security Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSSC#NASDAQ">NSSC</a>) with a Buy rating and announces Price Target of $52.</p>


Initiation

NSSC

DA Davidson Initiates Coverage On NAPCO Security Techs with Buy Rating, Announces Price Target of $52

<p>Oil States International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIS#NYSE">OIS</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $(0.01) by 200 percent. This is a 200 percent decrease over earnings of $0.03 per share from the same period last year.  The company reported quarterly sales of $167.262 million which missed the analyst consensus estimate of $190.075 million by 12.00 percent.  This is a 14.75 percent decrease over sales of $196.199 million the same period last year.</p>


Earnings

Earnings Misses

CORRECTION: Oil States International Q1 2024 Adj EPS $(0.03) Misses $(0.01) Estimate, Sales $167.262M Miss $190.075M Estimate

<p>Needham  analyst Quinn Bolton   reiterates Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Hold.</p>


Reiteration

Needham Reiterates Hold on Intel

APLS

Apellis Pharmaceuticals shares are trading higher after the European Medicines Agency resets Pegcetacoplan review for geographic atrophy to day 180 of initial assessment.

<p>CLSA   reinstates H World Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) with a Buy and announces $47 price target.</p>


HTHT

CLSA Reinstates Buy on H World Group, Announces $47 Price Target

<p><strong>Chipotle Mexican Grill Inc</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) reportedly instructed its employees recently not to opt for chicken in their meals due to high demand but has now lifted the restriction.</p>
<p>Chipotle&nbsp;informed its U.S. employees through email&nbsp;about the reintroduction of chicken al pastor, citing challenges arising from its success,&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-25/chipotle-tells-workers-to-skip-chicken-as-customer-demand-surges?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">reported&nbsp;</a>Bloomberg.</p>
<p>The message from Chief Restaurant Officer Scott Boatwright requested employees to abstain from ordering chicken, stating it was to preserve&nbsp;supply for customers, as per the report.</p>
<p>Chipotle clarified that the directive was a request, not a mandate, and announced employees could resume ordering chicken as usual within a week.</p>
<p><strong><em>Also Read</em></strong><em>:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38437634/chipotle-mexican-grill-is-in-a-league-of-their-own-7-analysts-revise-forecasts-afte" rel="noreferrer noopener">Chipotle Mexican Grill Is In A &#8216;League Of Their Own&#8217;: 7 Analysts Revise Forecasts After Q1 Results</a></em></p>
<p>CEO Brian Niccol confirmed to Bloomberg that it was a temporary supply crunch but assured that the issue had been resolved with no ongoing challenges.</p>
<p>Employees at&nbsp;Chipotle&#8217;s only unionized U.S. store in Michigan voiced concerns over the company&#8217;s policy enforcement and the need for a secure union contract.</p>
<p>Chicken al pastor&nbsp;was highlighted&nbsp;as a successful marketing initiative&nbsp;contributing&nbsp;to increased sales in the first quarter.</p>
<p>Earlier this week, Chipotle said first-quarter revenue increased 14.1% year-over-year to $2.702 billion, which beat the analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38417218/chipotle-mexican-grill-q1-earnings-revenue-beat-eps-beat-comparable-sales-up-7-and-more" rel="noreferrer noopener">consensus estimate of $2.675 billion</a>.</p>
<p>The fast-casual restaurant chain company reported adjusted earnings of $13.37 per share, which beat analyst estimates of $11.68&nbsp;per share.&nbsp;</p>
<p><strong><em>Read Next</em></strong><em>:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38360106/chipotle-to-spice-up-kuwait-city-new-location-marks-decade-long-international-expansion" rel="noreferrer noopener">Chipotle To Spice Up Kuwait City: New Location Marks Decade-Long International Expansion</a></em></p>
<p>Chipotle Mexican Grill stock gained over 54% in the last 12 months. Investors can gain exposure to the stock via&nbsp;<strong>Vanguard Total Stock Market ETF</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>) and&nbsp;<strong>Invesco Food &amp; Beverage ETF</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBJ#NYSE">PBJ</a>).</p>
<p><strong>Price Action</strong>: CMG shares closed higher by 6.33% at $3,111.97 on Thursday.</p>
<p><strong><em>Disclaimer</em></strong><em>: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Photo via Shutterstock</em></p>


Equities

Media

Chipotle Requests Employees To Not Eat Chicken So They Can Sell More, Rescinds Soon

European Medicines Agency Has Reset The Review Of Apellis Pharmaceuticals' Intravitreal Pegcetacoplan For Geographic Atrophy To The Last Phase Of The Initial Assessment (Day 180). Apellis Anticipates An Opinion From CHMP No Later Than July 2024

<p>Needham  analyst James Ricchiuti   maintains Plexus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLXS#NASDAQ">PLXS</a>) with a Buy and raises the price target from $107 to $114.</p>


PLXS

Needham Maintains Buy on Plexus, Raises Price Target to $114

<p>Needham  analyst Charles Shi   reiterates KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) with a Hold.</p>


KLAC

Needham Reiterates Hold on KLA

Newell Brands shares are trading higher after the company reported better than expected Q1 earnings and issued guidance.

<p>Scotiabank  analyst Patrick Colville   initiates coverage on Tenable Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) with a Sector Perform rating and announces Price Target of $47.</p>


TENB

Scotiabank Initiates Coverage On Tenable Holdings with Sector Perform Rating, Announces Price Target of $47

<p>Goldman Sachs  analyst Kash Rangan   maintains Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with a Buy and raises the price target from $450 to $515.</p>


MSFT

Goldman Sachs Maintains Buy on Microsoft, Raises Price Target to $515

<p>Scotiabank  analyst Patrick Colville   initiates coverage on Rapid7 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPD#NASDAQ">RPD</a>) with a Sector Perform rating and announces Price Target of $46.</p>


Scotiabank Initiates Coverage On Rapid7 with Sector Perform Rating, Announces Price Target of $46

AVTR

Avantor shares are trading lower after the company reported worse-than-expected Q1 sales results and reiterated FY24 guidance.

<p>The BMP kit runs on Bio-Techne&#39;s Ella&trade;, a benchtop automated immunoassay platform leveraging Bio-Techne&#39;s R&amp;D Systems branded reagents to deliver accurate, reliable, and highly reproducible data in less than 90 minutes. Ella&#39;s microfluidic-based cartridges with separate channels enable precision multiplexing in a hands-free system, making it ideal for diagnostic clinical use. Novomol-Dx relied on a proprietary algorithm to develop the normative data, disease-associated data, and AI-based predictive algorithms for ocular surface and retinal conditions. The complete solution is branded as BioM-Pathfinder. The novel applications for the BMP kit are in Dry Eye Disease, Diabetic Retinopathy and patient stratification or monitoring associated with ocular surgeries and treatments.&nbsp;</p>


Contracts

TECH

Bio-Techne And Novomol-Dx Have Announced The Development Of Bio-marker Pathfinder, An Ocular Biomarker Kit, As A Point-Of-Care Application

<p><strong>Southwest Airlines Co</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) may reconsider its traditional open seating policy, opting for assigned seats and premium options to attract younger travelers.</p>
<p>The potential change, marking a departure from its historic model, is under serious consideration. CEO Bob Jordan hinted at the airline&#8217;s evolving approach, emphasizing the importance of understanding and meeting customer expectations, reported&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-25/southwest-air-is-considering-ditching-unassigned-seating?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.</p>
<p>This significant shift could be the most substantial adjustment since the airline&#8217;s inception in 1971.</p>
<p>The airline&#8217;s executives have been evaluating evolving passenger preferences, acknowledging the industry&#8217;s shift towards premium offerings, the report read.</p>
<p>However, they&#8217;ve maintained a cautious&nbsp;approach,&nbsp;awaiting confirmation of sustained trends.&nbsp;An official decision on seating arrangements, along with other strategic initiatives like red-eye flights, is anticipated at an investor day event in September, the report added.</p>
<p>In its earnings report yesterday, the company revealed its decision to close its operations at Bellingham International Airport, Cozumel International Airport,&nbsp;Houston&#8217;s&nbsp;George Bush Intercontinental Airport, and Syracuse Hancock International Airport.&nbsp;</p>
<p><strong><em>Related</em></strong><em>:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38435109/southwest-airlines-record-passenger-numbers-overshadowed-by-q1-earnings-slump-and-boeing-setbacks" rel="noreferrer noopener">Southwest Airlines&#8217; Record Passenger Numbers Overshadowed By Q1 Earnings Slump And Boeing Setbacks</a></em></p>
<p>Chief Commercial Officer Ryan Green highlighted Southwest&#8217;s historical aversion to altering its no-frills approach but acknowledged incremental changes over time.</p>
<p>Despite its initial resistance, the airline has embraced technology enhancements and expanded sales channels beyond its website.</p>
<p>With current flights often operating at&nbsp;full&nbsp;capacity, Southwest recognizes the need to address evolving customer expectations.</p>
<p>The potential shift in seating policy is under scrutiny, with careful consideration of its operational impact and alignment with customer preferences.</p>
<p>&#8220;There&#8217;s no decision,&#8221; Jordan affirmed, emphasizing the importance of data-driven insights to determine the best&nbsp;course of&nbsp;action.</p>
<p>Southwest Airlines stock lost over 11% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;<strong>U.S. Global Jets ETF</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and&nbsp;<strong>IShares U.S. Transportation ETF</strong>&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).</p>
<p><strong><em>Read Next</em></strong><em>:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38412947/airline-passenger-rights-elevated-biden-administration-enforces-refund-rule" rel="noreferrer noopener">Airline Passenger Rights Elevated: Biden Administration Enforces Refund Rule</a></em></p>
<p><strong>Price Action</strong>: LUV shares closed lower by 6.96% at $27.26 on Thursday.</p>
<p><strong><em>Disclaimer</em></strong><em>: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Image by Around the World Photos via Shutterstock</em></p>


iShares Dow Jones Transportation Average Index Fund

JETS

Southwest Airlines May Ditch 'Open Seating' To Make More Money From 'Premium Seating' Options

<p>Scotiabank  analyst Patrick Colville   initiates coverage on Qualys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLYS#NASDAQ">QLYS</a>) with a Sector Perform rating and announces Price Target of $172.</p>


QLYS

Scotiabank Initiates Coverage On Qualys with Sector Perform Rating, Announces Price Target of $172

SATS

EchoStar Corporation Says Unit  Hughes Network Systems Opens New Manufacturing Facility And Private 5G Incubation Center In Germantown, Maryland, To Boost Local Talent

Janux Therapeutics Inc (JANX) has received a new Buy rating, initiated by BTIG analyst, Kaveri Pohlman. Kaveri Pohlman's rating is based on several...

Janux Therapeutics: A Strong Buy on Innovative Cancer Therapies and Solid Financials

Janux Therapeutics surges amid report of takeover interest

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Humacyte (HUMA – Research Report), Janux Therapeutic...

Analysts' Top Healthcare Picks: Humacyte (HUMA), Janux Therapeutics Inc (JANX)

Janux Therapeutics: A Prime Target In Cancer Care's M&A Game

Soumit Roy, an analyst from JonesTrading, has initiated a new Buy rating on Janux Therapeutics Inc (JANX). Soumit Roy has given his Buy rating due ...

Buy Rating Affirmed for Janux Therapeutics on Innovative Oncology Treatments and M&A Potential

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Investors looking for a white-knuckle ride can easily find one by buying&nbsp;<a target="_blank" href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a>. There is a certain thrill in investing in a company making actual life-or-death decisions with drugs. And they offer the potential for creating fabulous wealth for investors willing to get in early enough.</p>



<p>Yet, biotechs can also plunge to new depths when their drug trials go awry. It&rsquo;s definitely not a sector to invest in for the faint of heart. Finding the right horse to back is a key consideration. Below are three <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a> that have recently reported favorable developments and seen their stocks surge higher. Although the companies had some good news, is there even more to come? After rocketing at least 269% already this year, let&rsquo;s see if investors missed the boat on these three biotech stocks or if there are more gains to come.</p>



<h2>Viking Therapeutics (VKTX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/medical-tools-tech-therapeutics-300x169.png" alt="An image of a tablet with 'therapeutics' on the screen, a stethoscope and face mask around it"><div>Source: ra2 studio/Shutterstock</div></div><p>Weight-loss drugs have been a&nbsp;<a target="_blank" href="https://investorplace.com/2024/02/nvo-lly-or-azn-which-pharma-stock-is-the-best-weight-loss-investment/">huge growth driver</a>&nbsp;ever since&nbsp;<strong>Novo Nordisk</strong>&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/nvo-stock-quote/"><strong>NVO</strong></a>) released its glycogen-like peptide-1 (GLP-1) therapy for obesity Wegovy. The Danish drug maker&rsquo;s stock is up 253% over the past three years as a result.&nbsp;<strong>Eli Lilly</strong>&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/lly-stock-quote/"><strong>LLY</strong></a>) quadrupled in value after releasing its own insulin-stimulating GLP-1 treatment, Zepbound. While the drugs are immensely popular, they are administered subcutaneously, which could limit their potential reach amongst patients.</p>



<p>Biotech&nbsp;<strong>Viking Therapeutics</strong>&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/vktx-stock-quote/"><strong>VKTX</strong></a>) is investigating an oral version of a GLP-1 treatment called VK2735. In phase 2 trials, it is performing even better than either Wegovy or Zepbound, helping overweight and obese people&nbsp;<a target="_blank" href="https://ir.vikingtherapeutics.com/2024-02-27-Viking-Therapeutics-Announces-Positive-Top-Line-Results-from-Phase-2-VENTURE-Trial-of-Dual-GLP-1-GIP-Receptor-Agonist-VK2735-in-Patients-with-Obesity">lose up to 15% of their body weight</a>&nbsp;after 13 weeks of treatment.</p>



<p>Viking Therapeutics stocks&nbsp;<a target="_blank" href="https://investorplace.com/2024/02/why-is-viking-therapeutics-vktx-stock-up-96-today/">more than doubled</a>&nbsp;on the news and kept rising to almost $100 a share. While it has given back a third of those gains, the biotech is up 269% so far this year and could go even higher as VK2735 progresses through late-stage trials. An oral version of the drug would be seen as a superior alternative to receiving an injection.</p>



<h2>Skye Bioscience (SKYE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/droplet-test-tube-biotech-1600-3-300x169.jpg" alt="Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotech"><div>Source: shutterstock.com/Romix Image</div></div><p><strong>Skye Bioscience</strong>&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/skye-stock-quote/"><strong>SKYE</strong></a>) was trading on the pink sheets until last week. The over-the-counter stock is a clinical stage biotech focused on therapies for the endocannabinoid system, in particular on obesity and ocular indications. Although its stock had been rising since late January when it announced a&nbsp;<a target="_blank" href="https://finance.yahoo.com/news/skye-bioscience-announces-50-25-130000443.html">$50 million private placement</a>&nbsp;to help fund its research into its various therapies, shares shot higher on Feb. 27. There is some significance to that.</p>



<p>First, Skye had announced the day before it had&nbsp;<a target="_blank" href="https://finance.yahoo.com/news/skye-bioscience-completes-enrollment-phase-120000236.html">completed ahead of schedule</a>&nbsp;a targeted enrollment of 54 patients by dosing 56 patients in a phase 2a study of SBI-100 Ophthalmic Emulsion (OE). That is Skye&rsquo;s investigational therapy for glaucoma patients. It now expects topline study data to be ready in the second quarter.</p>



<p>Yet it is also coincidental that Viking Therapeutics announced its phase 2 trial results for its obesity treatments on that same day. Skye is pursuing trials of nimacimab for patients with obesity and chronic kidney disease. In early January it&nbsp;<a target="_blank" href="https://ir.skyebioscience.com/news-events/press-releases/detail/186/skye-bioscience-receives-ind-clearance-for-phase-2-clinical">received clearance</a>&nbsp;for its Investigational New Drug (IND) application with the Food &amp; Drug Administration to begin its own phase 2 trials. No doubt investors see potential for Skye with both its glaucoma therapy and a potential obesity treatment. With its shares rising, Skye Bioscience got approval to move its stock&nbsp;<a target="_blank" href="https://www.biospace.com/article/releases/skye-bioscience-uplists-to-the-nasdaq-global-market/">up to the Nasdaq exchange</a>&nbsp;on Apr. 10 where it now trades. SKYE stock is up 440% so far this year.</p>



<h2>Janux Therapeutics (JANX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/biotech-stocks-2-300x169.jpg" alt="A close-up concept image of a tiny glass vial with a strand of DNA in it. best biotech stocks"><div>Source: Shutterstock</div></div><p>Apparently Feb. 27 was a day for biotechs to surge as cancer biotech&nbsp;<strong>Janux Therapeutics</strong>&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/janx-stock-quote/"><strong>JANX</strong></a>) also rocketed higher after reporting&nbsp;<a target="_blank" href="https://investorplace.com/2024/02/why-is-janux-therapeutics-janx-stock-up-108-today/">encouraging efficacy and safety data</a>&nbsp;in their clinical trials for JANX007, a treatment of metastatic castration-resistant prostate cancer. It also had positive developments FOR JANX008, which is being tested for treating late-stage solid tumors. JANX stock ultimately tripled in value, rising 220%. Janux Therapeutics stock is now up 372% in 2024.</p>



<p>As is common after a big run-up like that, Janux gave back some of its gains, falling from a high of over $58 a share to $35 a share &mdash; still a double from where it started. However, JANX stock was off to the races again last week after&nbsp;<em>Bloomberg</em>&nbsp;reported that Janux Therapeutics is&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-10/cancer-drug-maker-janux-therapeutics-said-to-weigh-possible-sale">exploring a sale of the company</a>. The drug developer is exploring several options, but the news site said it had received offers from buyers and was mulling them over. It is working with an advisor to decide which avenue is best. JANX stock is now back above $52 a share.</p>



<p><em>On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a target="_blank" href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em></a><em>.</em></p>
<div><p>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/these-3-biotech-stocks-are-up-269-in-2024-is-there-more-to-come/">These 3 Biotech Stocks Are Up 269% in 2024. Is There More to Come?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

These 3 Biotech Stocks Are Up 269% in 2024. Is There More to Come?

Janux a new buy at Jones on lead assets for solid tumors

Lyell Immunopharma: Testing The T-Cell Thesis With 2 Upcoming Data Catalysts

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Generally, the idea of selling securities rankles the public&rsquo;s nerve, yet trimming overbought stocks is just as important a discipline as knowing what to buy. It might be even more important than the latter concept.</p>



<p>Imagine you&rsquo;re a professional baseball team. You&rsquo;re charged with bringing home a title to your hometown&rsquo;s favorite ballclub. Fortunately, you have a tremendous starting pitching lineup. Unfortunately &ndash; as the Los Angeles Dodgers have found out &ndash; you need relief pitching to close out games. Otherwise, you&rsquo;d be throwing away W&rsquo;s and replacing them (needlessly) with L&rsquo;s.</p>



<p>That&rsquo;s the narrative behind overbought stocks. You got in early. That&rsquo;s awesome. Now, close out the game before all that good work goes for naught.</p>



<h2>Coupang (CPNG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/coupang-1600-300x169.jpg" alt="The Coupang (CPNG stock) campus in Silicon Valley, California."><div>Source: Michael Vi / Shutterstock.com</div></div><p>Based in South Korea, <strong>Coupang</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/cpng-stock-quote/"><strong>CPNG</strong></a>) owns and operates retail businesses through its mobile applications and Internet websites. Its online marketplace offers a variety of product categories, from sporting goods to consumer electronics to even fresh food and groceries. Commanding a stronghold in the South Korean market, Coupang naturally attracted speculative interest when it succumbed to a multi-month low this past February.</p>



<p>However, shares may have gone too far, too fast. On a year-to-date basis, CPNG stock returned over 43%. At time of writing, its <a href="https://www.barchart.com/stocks/quotes/CPNG/technical-chart?plot=BAR&amp;volume=total&amp;data=DO&amp;density=M&amp;pricesOn=1&amp;asPctChange=0&amp;logscale=0&amp;indicators=RSI(14,100)&amp;sym=CPNG&amp;grid=1&amp;height=500&amp;studyheight=100">relative strength indicator</a> clocks in at over 84 points. The cutoff for when a security is considered overbought is 70. So, from a technical standpoint, investors may want to consider trimming their exposure.</p>



<p>On a financial note, CPNG stock trades at 1.66X trailing-year revenue. That&rsquo;s above the sector median value of 0.67X. To be fair, analysts project revenue of $29.17 billion for the current fiscal year. That&rsquo;s up 19.6% from 2023&rsquo;s sales haul of $24.38 billion.</p>



<p>Nevertheless, even at the most optimistic revenue forecast of $31.4 billion, Coupang would trade at a sales multiple of 1.15X. So, it&rsquo;s one of the overbought stocks to trim.</p>



<h2>Argan (AGX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/sell-red-dice-300x169.jpg" alt="earnings"><div>Source: Shutterstock</div></div><p>Operating under the industrials sector, <strong>Argan</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/agx-stock-quote/"><strong>AGX</strong></a>) specializes in the engineering and construction field. Through its subsidiaries, the company provides engineering, procurement, construction, commissioning, maintenance, project development and technical consulting services to the power generation market. Given its relevance to the green and renewable energy space, it&rsquo;s no shock that AGX stock benefited from upside momentum.</p>



<p>However, it&rsquo;s also possible that, as with Coupang above, shares have gone too far, too fast. Since the beginning of the year, AGX stock gained almost 30% of equity value. Most of this upside came in the last five sessions, which saw Argan swing up 22%. Right now, its RSI reads 80.75 points. Technically speaking, that makes it one of the overbought stocks.</p>



<p>Financially, the issue comes with the rich <a href="https://www.gurufocus.com/stock/AGX/summary?search=agx">sales multiple of 1.44X</a>. In contrast, the sector median value sits at 0.76X. To be fair, analysts anticipate that by the end of the current fiscal year (2025), Argan will post sales of $724.35 million. That&rsquo;s up 26.3% from last year&rsquo;s tally of $573.33 million.</p>



<p>Still, even at the most optimistic forecast of $737.7 million, AGX stock would trade at a revenue multiple of around 1.1X.</p>



<h2>Janux Therapeutics (JANX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/biotechnology1600-300x169.png" alt="Biotechnology stocks, biomedical stocks"><div>Source: aslysun / Shutterstock.com</div></div><p>A biotechnology specialist, <strong>Janux Therapeutics</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/janx-stock-quote/"><strong>JANX</strong></a>) is a clinical-stage enterprise focused on the development of immunotherapies. These encompass unique platforms that leverage advanced tech to treat patients suffering from cancer. One of its core products addressing <a href="https://www.biospace.com/article/janux-s-stock-skyrockets-172-percent-on-positive-results-for-two-candidates-in-phase-i-trials-/#:~:text=All%20(808%2C293)-,Janux's%20Stock%20Skyrockets%20172%25%20on%20Positive%20Results%20for,Candidates%20in%20Phase%20I%20Trials&amp;text=San%20Diego%2Dbased%20Janux%20Therapeutics,and%20late%2Dstage%20solid%20tumors.">metastatic castration-resistant prostate cancer</a> is currently in Phase 1 trials.</p>



<p>Despite the extraordinary relevancies that Janux offers, the bulk of the optimism may have been priced in. Notably, in the past five sessions, JANX stock already gained almost 28% of market value. Since the start of the year, shares have skyrocketed nearly 359%. Part of the enthusiasm may be attributed to <a href="https://fintel.io/ss/us/janx">high short interest</a> (20.17% of the float) against JANX.</p>



<p>Basically, a rising price can easily panic bears out of their position. Still, one has to question if there&rsquo;s more legs left. Even though the RSI dipped to 72.59 points, it&rsquo;s still considered one of the overbought stocks.</p>



<p>Here&rsquo;s the deal: JANX stock now trades at nearly 278X trailing-year revenue. The problem is that even at the highest revenue target of $5 million by the end of fiscal 2024, it&rsquo;s still below the $8.08 million posted last year. Thus, taking some profits might not be a bad idea.</p>



<p><em>On the date of publication, Josh Enomoto</em><em> did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;</em><em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em><em></em></p>
<div><p>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/take-the-money-and-run-3-overbought-stocks-to-sell-asap/">Take the Money and Run: 3 Overbought Stocks to Sell ASAP</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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Press Releases

Janux Therapeutics Announces Pricing of $60 Million Underwritten Offering of Common Stock and Pre-Funded Warrants

Janux Therapeutics Reports Second Quarter 2023 Financial Results and Business Highlights

Janux Therapeutics Reports Third Quarter 2023 Financial Results and Business Highlights

Janux Therapeutics Promotes Co-Founder Tommy DiRaimondo, Ph.D. to Chief Scientific Officer

Janux Therapeutics to Host Virtual Event Discussing Updated Clinical Data for PSMA-TRACTr JANX007 and EGFR-TRACTr JANX008

Janux Announces Encouraging Safety and Efficacy Data in Ongoing Dose Escalation Trials for PSMAxCD3-TRACTr JANX007 in mCRPC and EGFRxCD3-TRACTr JANX008 in Solid Tumors

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