Janux Therapeutics, Inc.

Janux Therapeutics – a small-cap developer of prostate cancer therapies – has lost more than 65% of its market value over the past year. The steepest decline followed the release of data on one of the key candidates in the company’s pipeline. Despite this, Janux shares remain in the portfolios of BlackRock and investor Steve Cohen, according to its <a href="https://www.gurufocus.com/stock/JANX/ownership">Form 13F filing</a> as of the end of September. Wall Street analysts, for their part, continue to recommend buying the stock, expecting it could rise more than 300%.

Why biotech Janux, held by Blackrock and Steve Cohen, has consensus upside of 300%

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Steve Cohen, founder of hedge fund Point72 Asset Management, believes the current upturn in the markets looks unreliable. He estimates the likelihood of a recession at nearly 45%, and he says indexes could yet return to April lows. "We're all somewhat dependent on news right now, and that's a tricky way to manage money," the investor says.