HC Wainwright Issues Positive Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX) had its price objective hoisted by HC Wainwright from $63.00 to $70.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. 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. Leerink Partners started coverage on Janux Therapeutics in a research note on Friday, November 22nd. They set an “outperform” rating and a $79.00 price target on the stock. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Thursday, November 14th. Wedbush reiterated an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. Finally, Stifel Nicolaus initiated coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 price objective for the company. One 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $77.90.

Janux Therapeutics Stock Up 49.0 %

NASDAQ:JANX opened at $59.86 on Tuesday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -51.16 and a beta of 3.29. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.25. The firm has a 50 day moving average of $49.60 and a 200 day moving average of $45.72.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. The company’s revenue was down 82.6% on a year-over-year basis. As a group, analysts expect that Janux Therapeutics will post -1.35 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the sale, the insider now directly owns 3,162,851 shares in the company, valued at $132,839,742. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Hollman Meyer sold 50,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $45.96, for a total value of $2,298,000.00. Following the completion of the transaction, the insider now directly owns 67,592 shares of the company’s stock, valued at $3,106,528.32. The trade was a 42.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 460,610 shares of company stock valued at $21,583,666. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in Janux Therapeutics during the second quarter worth $29,000. Amalgamated Bank raised its position in shares of Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Janux Therapeutics in the 2nd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after buying an additional 339 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Janux Therapeutics during the 2nd quarter worth approximately $151,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.