Brokerages Set Janux Therapeutics, Inc. (NASDAQ:JANX) Price Target at $89.90

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) have received an average rating of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $89.90.

Several equities research analysts have recently commented on JANX shares. HC Wainwright raised their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus raised their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Leerink Partners upped their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 target price for the company. Finally, Scotiabank lifted their price target on Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th.

Janux Therapeutics Price Performance

Shares of NASDAQ JANX opened at $56.14 on Friday. The stock has a market capitalization of $2.95 billion, a P/E ratio of -47.98 and a beta of 3.29. Janux Therapeutics has a one year low of $7.79 and a one year high of $71.71. The firm’s 50 day simple moving average is $54.24 and its two-hundred day simple moving average is $47.30.

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

Insider Buying and Selling

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 50,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the completion of the sale, the insider now directly owns 67,592 shares in the company, valued at $3,106,528.32. The trade was a 42.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 49,231 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $46.45, for a total transaction of $2,286,779.95. Following the completion of the transaction, the insider now owns 6,926 shares in the company, valued at $321,712.70. This trade represents a 87.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,032 shares of company stock worth $9,512,515. 29.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in Janux Therapeutics in the 2nd quarter worth approximately $29,000. Amalgamated Bank increased its stake in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Janux Therapeutics in the second quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Janux Therapeutics during the 2nd quarter valued at $151,000. 75.39% of the stock is currently owned by hedge funds and other 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.