Janux Therapeutics (NASDAQ:JANX) Stock Rating Upgraded by Leerink Partnrs

Janux Therapeutics (NASDAQ:JANX) was upgraded by investment analysts at Leerink Partnrs to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

A number of other brokerages have also issued reports on JANX. Scotiabank decreased their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus began coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. UBS Group initiated coverage on Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $67.70.

Janux Therapeutics Stock Performance

Shares of Janux Therapeutics stock opened at $50.31 on Friday. Janux Therapeutics has a one year low of $7.79 and a one year high of $65.60. The company has a market cap of $2.64 billion, a PE ratio of -43.00 and a beta of 3.52. The business has a 50-day simple moving average of $50.07 and a 200-day simple moving average of $46.03.

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 company had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The business’s revenue was down 82.6% compared to the same quarter last year. On average, sell-side analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the transaction, the insider now owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. This represents a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $46.31, for a total value of $1,157,750.00. Following the transaction, the chief executive officer now directly owns 307,054 shares in the company, valued at approximately $14,219,670.74. This represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 420,610 shares of company stock valued at $19,288,666 in the last three months. Insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently added to or reduced their stakes in JANX. ProShare Advisors LLC bought a new stake in Janux Therapeutics during the 1st quarter valued at approximately $251,000. Vanguard Group Inc. lifted its position 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 acquiring an additional 378,477 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Janux Therapeutics in the 1st quarter worth approximately $739,000. Janus Henderson Group PLC lifted its position in shares of Janux Therapeutics by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock worth $73,961,000 after acquiring an additional 34,069 shares during the period. Finally, Artal Group S.A. bought a new stake in shares of Janux Therapeutics in the 1st quarter worth approximately $1,882,000. Institutional investors own 75.39% of the company’s stock.

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.