Scotiabank Trims Janux Therapeutics (NASDAQ:JANX) Target Price to $42.00

Janux Therapeutics (NASDAQ:JANX) had its price target cut by Scotiabank from $47.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

JANX has been the topic of several other research reports. Jonestrading assumed coverage on Janux Therapeutics in a report on Tuesday, April 16th. They set a buy rating and a $70.00 target price on the stock. Cantor Fitzgerald restated an overweight rating and issued a $100.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. Wedbush reiterated an outperform rating and set a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Finally, HC Wainwright raised their price target on shares of Janux Therapeutics from $50.00 to $63.00 and gave the company a buy rating in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $65.57.

Janux Therapeutics Stock Up 2.1 %

Shares of Janux Therapeutics stock opened at $36.60 on Friday. The stock has a market capitalization of $1.90 billion, a P/E ratio of -30.00 and a beta of 3.57. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The company has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $38.90.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $8.90 million during the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The business’s revenue for the quarter was up 709.1% compared to the same quarter last year. On average, equities analysts anticipate that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In related news, CFO Tighe Reardon sold 822,721 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $45,043,974.75. Following the completion of the sale, the chief financial officer now owns 633,673 shares in the company, valued at $34,693,596.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Tighe Reardon sold 822,721 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $45,043,974.75. Following the completion of the sale, the chief financial officer now owns 633,673 shares in the company, valued at approximately $34,693,596.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jay Lichter sold 1,500,000 shares of Janux Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the transaction, the director now owns 633,673 shares in the company, valued at $34,693,596.75. The disclosure for this sale can be found here. Insiders have sold 3,000,000 shares of company stock worth $164,250,000 in the last three months. Insiders own 35.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently bought and sold shares of JANX. Nisa Investment Advisors LLC increased its position in shares of Janux Therapeutics by 10,740.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after acquiring an additional 2,685 shares in the last quarter. Summit Securities Group LLC bought a new position in Janux Therapeutics during the 2nd quarter worth about $29,000. Amalgamated Bank raised its stake in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Janux Therapeutics in the second quarter valued at about $42,000. Finally, SG Americas Securities LLC acquired a new position in shares of Janux Therapeutics during the fourth quarter worth about $100,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.