Janux Therapeutics (NASDAQ:JANX) Now Covered by Jonestrading

Jonestrading assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note released on Tuesday, Benzinga reports. The firm issued a buy rating and a $70.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Wedbush reiterated an outperform rating and issued a $53.00 price objective on shares of Janux Therapeutics in a research report on Monday, March 11th. William Blair restated an outperform rating on shares of Janux Therapeutics in a research note on Tuesday, February 27th. BTIG Research started coverage on Janux Therapeutics in a research note on Thursday, March 21st. They issued a buy rating and a $62.00 target price for the company. Cantor Fitzgerald started coverage on Janux Therapeutics in a research note on Wednesday, March 20th. They issued an overweight rating and a $100.00 target price for the company. Finally, Bank of America raised their target price on Janux Therapeutics from $24.00 to $48.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $61.33.

Janux Therapeutics Price Performance

JANX opened at $48.69 on Tuesday. The stock’s 50 day simple moving average is $35.20 and its 200 day simple moving average is $18.09. Janux Therapeutics has a 1 year low of $5.65 and a 1 year high of $58.69. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -36.34 and a beta of 4.18.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.12. The firm had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. As a group, sell-side analysts anticipate that Janux Therapeutics will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Janux Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 979,483 shares of the company’s stock valued at $10,510,000 after buying an additional 37,202 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Janux Therapeutics by 174.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 39,948 shares of the company’s stock worth $429,000 after purchasing an additional 25,404 shares in the last quarter. Barclays PLC increased its holdings in shares of Janux Therapeutics by 166.3% in the 4th quarter. Barclays PLC now owns 47,722 shares of the company’s stock worth $511,000 after purchasing an additional 29,800 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Janux Therapeutics by 22.3% in the 4th quarter. Nuveen Asset Management LLC now owns 81,574 shares of the company’s stock worth $875,000 after purchasing an additional 14,872 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Janux Therapeutics by 5.9% in the 4th quarter. Northern Trust Corp now owns 204,002 shares of the company’s stock worth $2,189,000 after purchasing an additional 11,317 shares in the last quarter. 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.