Janux Therapeutics (NASDAQ:JANX) Given Outperform Rating at William Blair

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a research note issued on Tuesday,RTT News reports.

A number of other research firms also recently commented on JANX. Leerink Partners began coverage on Janux Therapeutics in a research note on Friday, November 22nd. They issued an “outperform” rating and a $79.00 price target for the company. HC Wainwright boosted their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday. BTIG Research lifted their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group initiated coverage on Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Janux Therapeutics in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $72.20.

Janux Therapeutics Stock Performance

NASDAQ:JANX traded up $27.95 during mid-day trading on Tuesday, hitting $68.13. 2,212,364 shares of the stock were exchanged, compared to its average volume of 721,350. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -58.23 and a beta of 3.30. The firm’s 50-day simple moving average is $49.81 and its 200 day simple moving average is $45.77. Janux Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $71.25.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s revenue was down 82.6% compared to the same quarter last year. On average, analysts predict that Janux Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 50,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the transaction, the insider now directly owns 67,592 shares of the company’s stock, valued at $3,106,528.32. This represents a 42.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the completion of the sale, the chief executive officer now directly owns 282,054 shares of the company’s stock, valued at approximately $15,101,171.16. This trade represents a 8.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 445,610 shares of company stock valued at $20,578,666. 29.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently modified their holdings of JANX. FMR LLC lifted its holdings in shares of Janux Therapeutics by 0.6% in the third quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares in the last quarter. Janus Henderson Group PLC increased its stake in Janux Therapeutics by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after buying an additional 721,563 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Janux Therapeutics by 38.6% in the 1st 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 during the last quarter. Logos Global Management LP grew its holdings in shares of Janux Therapeutics by 400.0% in the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Janux Therapeutics by 6.2% during the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after acquiring an additional 38,490 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors.

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.