Janux Therapeutics (NASDAQ:JANX) Upgraded at Leerink Partnrs

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

A number of other research analysts have also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a research report on Thursday, November 7th. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $70.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research note on Thursday, November 14th. Scotiabank dropped their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group initiated coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective for the company. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $67.70.

Janux Therapeutics Price Performance

NASDAQ JANX opened at $50.31 on Friday. The company has a fifty day moving average price of $50.07 and a 200-day moving average price of $45.85. Janux Therapeutics has a 1 year low of $7.79 and a 1 year high of $65.60. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -43.00 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX) last posted 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). The firm had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company’s revenue for the quarter was down 82.6% on a year-over-year basis. On average, research analysts anticipate that Janux Therapeutics will post -1.34 EPS for the current fiscal year.

Insider Transactions at Janux Therapeutics

In related news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the acquisition, the director now directly owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. The trade was a 14.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 958 shares of Janux Therapeutics stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 420,610 shares of company stock worth $19,288,666. 29.40% of the stock is currently owned by insiders.

Institutional Trading of Janux Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in Janux Therapeutics during the 2nd quarter valued at $29,000. Amalgamated Bank increased 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 during the period. Plato Investment Management Ltd bought a new position in shares of Janux Therapeutics during the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Janux Therapeutics in the second quarter worth about $151,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

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.