Janux Therapeutics (NASDAQ:JANX) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Janux Therapeutics (NASDAQ:JANX) to a strong-buy rating in a report published on Friday,Zacks.com reports.

JANX has been the subject of a number of other research reports. UBS Group started coverage on Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Janux Therapeutics in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $63.00 price objective on shares of Janux Therapeutics in a research note on Thursday, November 7th. Finally, Stifel Nicolaus started coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Janux Therapeutics presently has an average rating of “Buy” and a consensus price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

Shares of Janux Therapeutics stock opened at $50.31 on Friday. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $65.60. The firm has a market capitalization of $2.64 billion, a P/E ratio of -43.00 and a beta of 3.52. The business has a fifty day simple moving average of $50.07 and a two-hundred day simple moving average of $45.85.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results 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 company had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. The business’s quarterly revenue was down 82.6% on a year-over-year basis. Analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In related news, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the completion of the transaction, the chief executive officer now directly owns 282,054 shares of the company’s stock, valued at approximately $15,101,171.16. This trade represents a 8.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the transaction, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 420,610 shares of company stock valued at $19,288,666 over the last ninety days. 29.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Janux Therapeutics by 1.8% in the first quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock valued at $73,961,000 after purchasing an additional 34,069 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Janux Therapeutics in the 1st quarter worth about $739,000. Virtu Financial LLC purchased a new stake in shares of Janux Therapeutics during the 1st quarter valued at about $609,000. Vanguard Group Inc. raised its position in shares of Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after buying an additional 378,477 shares in the last quarter. Finally, Blue Owl Capital Holdings LP bought a new position in shares of Janux Therapeutics in the 2nd quarter valued at about $1,676,000. Hedge funds and other institutional investors 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.