Janux Therapeutics (NASDAQ:JANX) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note published on Friday, MarketBeat.com reports. The firm issued an outperform rating and a $79.00 price target on the stock.

A number of other research firms have also weighed in on JANX. Scotiabank lowered their price objective 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 initiated coverage on shares of Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $63.00 price target 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $67.70.

Janux Therapeutics Stock Down 3.0 %

Shares of NASDAQ JANX opened at $48.82 on Friday. The firm has a 50-day simple moving average of $50.05 and a 200-day simple moving average of $45.83. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -41.73 and a beta of 3.52. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was down 82.6% on a year-over-year basis. As a group, equities research analysts expect that Janux Therapeutics will post -1.34 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of Janux Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $42.33, for a total value of $92,364.06. Following the completion of the transaction, the insider now directly owns 7,000 shares of the company’s stock, valued at $296,310. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the sale, the chief executive officer now directly owns 282,054 shares in the company, valued at $15,101,171.16. This represents a 8.14 % 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 over the last quarter. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its stake in shares of Janux Therapeutics by 48.0% in the third quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after acquiring an additional 2,419 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Janux Therapeutics during the 3rd quarter worth about $940,000. Geode Capital Management LLC raised its position in Janux Therapeutics by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after purchasing an additional 38,490 shares in the last quarter. Barclays PLC raised its position in Janux Therapeutics by 496.5% in the 3rd quarter. Barclays PLC now owns 174,061 shares of the company’s stock valued at $7,907,000 after purchasing an additional 144,883 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Janux Therapeutics in the 3rd quarter valued at about $317,000. 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.