Janux Therapeutics (NASDAQ:JANX) Stock Rating Upgraded by Lifesci Capital

Janux Therapeutics (NASDAQ:JANX) was upgraded by Lifesci Capital to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

JANX has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Stifel Nicolaus increased their price target on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. BTIG Research boosted their price objective on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, December 3rd. Finally, Leerink Partners upped their price objective on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Janux Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Price Performance

Shares of JANX opened at $54.10 on Friday. The company has a market cap of $2.84 billion, a PE ratio of -46.24 and a beta of 3.29. The firm has a 50-day moving average of $54.43 and a 200-day moving average of $47.46. Janux Therapeutics has a one year low of $7.79 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data 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 net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. The firm’s revenue for the quarter was down 82.6% compared to the same quarter last year. Analysts expect that Janux Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $46.24, for a total value of $44,297.92. Following the transaction, the insider now directly owns 6,887 shares in the company, valued at $318,454.88. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the purchase, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 92,801 shares of company stock valued at $5,174,735. 29.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its stake in Janux Therapeutics by 61.1% during the 2nd 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 purchased a new position in Janux Therapeutics in the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after acquiring an additional 339 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Janux Therapeutics during the 2nd quarter worth approximately $151,000. Finally, AQR Capital Management LLC bought a new stake in shares of Janux Therapeutics in the second quarter valued at $215,000. 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.