Janux Therapeutics’ (JANX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research note released on Friday,RTT News reports. Wedbush currently has a $76.00 price target on the stock, up from their prior price target of $75.00.

Several other research firms have also issued reports on JANX. BTIG Research boosted their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Cantor Fitzgerald restated 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. Finally, Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $88.00.

Janux Therapeutics Stock Up 2.7 %

Shares of Janux Therapeutics stock opened at $32.89 on Friday. The stock has a market cap of $1.73 billion, a PE ratio of -28.11 and a beta of 3.16. The business has a fifty day simple moving average of $43.75 and a 200-day simple moving average of $47.81. Janux Therapeutics has a 12 month low of $31.69 and a 12 month high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Analysts expect that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.29, for a total value of $140,994.86. Following the completion of the transaction, the insider now owns 82,139 shares in the company, valued at $3,473,658.31. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $56.19, for a total value of $1,404,750.00. Following the transaction, the chief executive officer now directly owns 217,054 shares of the company’s stock, valued at approximately $12,196,264.26. This trade represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,668 shares of company stock valued at $3,582,515. Insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds have recently made changes to their positions in JANX. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $87,000 after buying an additional 339 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Janux Therapeutics by 639.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 20,343 shares of the company’s stock valued at $924,000 after purchasing an additional 17,592 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Janux Therapeutics during the 3rd quarter valued at $239,000. Victory Capital Management Inc. increased its position in shares of Janux Therapeutics by 143.4% in the 3rd quarter. Victory Capital Management Inc. now owns 29,745 shares of the company’s stock valued at $1,351,000 after acquiring an additional 17,525 shares during the period. Finally, Plato Investment Management Ltd grew its position in Janux Therapeutics by 18.7% during the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after purchasing an additional 187 shares during the period. 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.