Janux Therapeutics (NASDAQ:JANX) Price Target Raised to $91.00 at Leerink Partners

Janux Therapeutics (NASDAQ:JANX) had its price objective boosted by Leerink Partners from $79.00 to $91.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price target would suggest a potential upside of 46.09% from the stock’s current price.

Other equities analysts have also issued research reports about the company. BTIG Research raised their price objective on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus upped their target price on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday. Finally, UBS Group began coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 target price for the company. One investment 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $77.90.

Janux Therapeutics Price Performance

Shares of JANX stock traded up $22.11 on Tuesday, hitting $62.29. The stock had a trading volume of 5,163,446 shares, compared to its average volume of 737,807. The firm has a market capitalization of $3.27 billion, a P/E ratio of -53.24 and a beta of 3.30. The company’s 50 day moving average price is $49.81 and its 200-day moving average price is $45.77. Janux Therapeutics has a 1 year low of $7.79 and a 1 year high of $71.25.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. The company’s quarterly revenue was down 82.6% compared to the same quarter last year. On average, equities analysts forecast that Janux Therapeutics will post -1.35 EPS for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the completion of the transaction, the chief executive officer now owns 307,054 shares of the company’s stock, valued at approximately $14,219,670.74. This trade represents a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the transaction, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. The trade was a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 445,610 shares of company stock valued at $20,578,666 over the last quarter. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings 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 acquiring an additional 721,563 shares during the last quarter. Logos Global Management LP increased its stake in 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 purchasing an additional 600,000 shares during the last quarter. Vanguard Group Inc. lifted its position in Janux Therapeutics by 38.6% during the first 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 period. Point72 Asset Management L.P. boosted its stake in Janux Therapeutics by 190.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after buying an additional 259,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after buying an additional 156,675 shares during the period. Hedge funds and other 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.