Leerink Partners Issues Positive Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX) had its price target upped by Leerink Partners from $79.00 to $91.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

JANX has been the topic of a number of other research reports. BTIG Research increased their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday. HC Wainwright increased their price objective on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $77.90.

Janux Therapeutics Trading Up 49.0 %

Shares of NASDAQ:JANX opened at $59.86 on Tuesday. Janux Therapeutics has a 12-month low of $7.79 and a 12-month high of $71.25. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -51.16 and a beta of 3.29. The stock has a fifty day simple moving average of $49.60 and a two-hundred day simple moving average of $45.72.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (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 firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. The company’s revenue for the quarter was down 82.6% on a year-over-year basis. As a group, equities research analysts predict that Janux Therapeutics will post -1.35 EPS for the current year.

Insider Activity at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $42.33, for a total transaction of $92,364.06. Following the completion of the sale, the insider now owns 7,000 shares of the company’s stock, valued at $296,310. The trade was a 23.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at $14,219,670.74. This trade represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 460,610 shares of company stock worth $21,583,666. 29.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Janux Therapeutics in the 2nd quarter worth $29,000. Amalgamated Bank lifted its position in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after acquiring an additional 368 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Janux Therapeutics in the second quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Janux Therapeutics during the 2nd quarter valued at approximately $151,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.