Janux Therapeutics’ (JANX) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research note released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $200.00 price objective on the stock.

Several other brokerages have also issued reports on JANX. Scotiabank lifted their price target on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. HC Wainwright boosted their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. BTIG Research raised their price objective on Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus upped their target price on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Price Performance

NASDAQ JANX opened at $61.11 on Wednesday. The business has a fifty day moving average price of $52.73 and a two-hundred day moving average price of $46.81. The stock has a market capitalization of $3.21 billion, a PE ratio of -52.23 and a beta of 3.29. Janux Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $71.71.

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

Insider Activity at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $45.96, for a total value of $2,298,000.00. Following the transaction, the insider now owns 67,592 shares in the company, valued at approximately $3,106,528.32. The trade was a 42.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the transaction, the director now owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. This trade represents a 14.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 192,032 shares of company stock worth $9,512,515 over the last ninety days. Insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Janux Therapeutics in the second quarter valued at approximately $1,452,000. Bank of New York Mellon Corp lifted its position in shares of Janux Therapeutics by 136.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock valued at $4,818,000 after acquiring an additional 66,340 shares during the period. Summit Securities Group LLC acquired a new position in shares of Janux Therapeutics during the 2nd quarter valued at $29,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics during the second quarter worth $151,000. Finally, Principal Financial Group Inc. acquired a new stake in Janux Therapeutics in the second quarter worth $237,000. 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.