Wedbush Reaffirms Outperform Rating for Janux Therapeutics (NASDAQ:JANX)

Wedbush reiterated their outperform rating on shares of Janux Therapeutics (NASDAQ:JANX) in a report published on Thursday morning, Benzinga reports. They currently have a $74.00 target price on the stock.

A number of other research firms also recently issued reports on JANX. Cantor Fitzgerald reiterated an overweight rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, May 9th. Jonestrading initiated coverage on shares of Janux Therapeutics in a report on Tuesday, April 16th. They set a buy rating and a $70.00 price objective on the stock. Scotiabank began coverage on Janux Therapeutics in a research note on Thursday, May 30th. They issued a sector perform rating and a $47.00 target price for the company. Finally, HC Wainwright boosted their price objective on Janux Therapeutics from $50.00 to $63.00 and gave the company a buy rating in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $65.57.

Janux Therapeutics Trading Down 1.7 %

NASDAQ:JANX traded down $0.63 on Thursday, reaching $35.86. 400,907 shares of the stock traded hands, compared to its average volume of 763,031. Janux Therapeutics has a 1-year low of $5.65 and a 1-year high of $65.60. The company’s 50 day moving average is $41.96 and its 200-day moving average is $38.50. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -29.39 and a beta of 3.57.

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

Insider Buying and Selling

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $37,081,025.25. Following the sale, the insider now directly owns 3,271,216 shares in the company, valued at $179,099,076. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the sale, the insider now owns 3,271,216 shares of the company’s stock, valued at $179,099,076. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Tighe Reardon sold 822,721 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the sale, the chief financial officer now directly owns 633,673 shares in the company, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently modified their holdings of JANX. Nisa Investment Advisors LLC raised its holdings in shares of Janux Therapeutics by 10,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock valued at $29,000 after acquiring an additional 2,685 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Janux Therapeutics during the second quarter valued at about $29,000. Plato Investment Management Ltd purchased a new stake in Janux Therapeutics during the second quarter valued at about $42,000. SG Americas Securities LLC bought a new stake in Janux Therapeutics during the fourth quarter worth about $100,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Janux Therapeutics in the 2nd quarter worth about $151,000. 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.