Janux Therapeutics (NASDAQ:JANX) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners started coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note published on Friday, MarketBeat Ratings reports. The firm issued an outperform rating and a $79.00 price target on the stock.

JANX has been the subject of a number of other reports. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research note on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. Scotiabank cut their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group began coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Janux Therapeutics presently has an average rating of “Buy” and a consensus price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

NASDAQ:JANX opened at $50.31 on Friday. The firm’s fifty day simple moving average is $50.07 and its 200 day simple moving average is $45.85. Janux Therapeutics has a twelve month low of $7.79 and a twelve month high of $65.60. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -43.00 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The company had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. The business’s revenue was down 82.6% compared to the same quarter last year. On average, analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In other news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the sale, the chief executive officer now owns 307,054 shares in the company, valued at $14,219,670.74. This represents a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew Hollman Meyer sold 50,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the completion of the transaction, the insider now directly owns 67,592 shares in the company, valued at $3,106,528.32. This represents a 42.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 420,610 shares of company stock worth $19,288,666. Company insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Janux Therapeutics by 0.6% during the third quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after buying an additional 47,075 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Janux Therapeutics by 40.0% during the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after acquiring an additional 721,563 shares during the period. Vanguard Group Inc. lifted its position in shares of Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after acquiring an additional 378,477 shares in the last quarter. Logos Global Management LP boosted its stake in Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after purchasing an additional 600,000 shares during the period. Finally, Geode Capital Management LLC grew its position in Janux Therapeutics by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after purchasing an additional 38,490 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.