Janux Therapeutics (NASDAQ:JANX) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note released on Friday, Marketbeat.com reports. The brokerage issued an outperform rating and a $79.00 target price on the stock.

A number of other equities analysts have also issued reports on JANX. Scotiabank lowered their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. UBS Group initiated coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a research report on Thursday, November 7th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Finally, Stifel Nicolaus started coverage on Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 target price on the stock. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

Shares of NASDAQ:JANX opened at $50.31 on Friday. Janux Therapeutics has a twelve month low of $7.79 and a twelve month high of $65.60. The company has a market capitalization of $2.64 billion, a PE ratio of -43.00 and a beta of 3.52. The firm has a 50 day simple moving average of $50.07 and a 200-day simple moving average of $45.85.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The firm had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The company’s quarterly revenue was down 82.6% compared to the same quarter last year. As a group, equities research analysts predict that Janux Therapeutics will post -1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 50,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $45.96, for a total value of $2,298,000.00. Following the completion of the transaction, the insider now owns 67,592 shares in the company, valued at $3,106,528.32. This trade represents a 42.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of Janux Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $42.33, for a total value of $92,364.06. Following the transaction, the insider now directly owns 7,000 shares of the company’s stock, valued at $296,310. This trade represents a 23.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 420,610 shares of company stock worth $19,288,666. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in shares of Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after purchasing an additional 721,563 shares during the last quarter. Logos Global Management LP grew its holdings in Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after buying an additional 600,000 shares during the last quarter. Vanguard Group Inc. increased its position in Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Janux Therapeutics by 190.2% in the third quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after acquiring an additional 259,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Janux Therapeutics by 202.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after acquiring an additional 156,675 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

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.