Barclays Issues Positive Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX) had its price target increased by Barclays from $14.00 to $15.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential downside of 9.93% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Friday, October 16th. Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a report on Friday, August 7th. Guggenheim decreased their price target on shares of Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wolfe Research raised Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research report on Monday, August 24th. Finally, TD Cowen upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.54.

Janux Therapeutics Stock Performance

JANX traded up $0.59 on Friday, reaching $16.65. 129,800 shares of the company’s stock were exchanged, compared to its average volume of 1,053,579. Janux Therapeutics has a twelve month low of $12.12 and a twelve month high of $35.34. The company’s 50 day moving average is $17.52 and its 200-day moving average is $15.39. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -10.19 and a beta of 2.44.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.13. The business had revenue of $9.29 million for the quarter, compared to analyst estimates of $8.03 million. Sell-side analysts forecast that Janux Therapeutics will post -1.70 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Janux Therapeutics by 67.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $28,000 after purchasing an additional 661 shares in the last quarter. Versant Capital Management Inc increased its stake in Janux Therapeutics by 42.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock worth $40,000 after buying an additional 784 shares during the period. Fulcrum Asset Management LLP lifted its holdings in Janux Therapeutics by 3,391.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,374 shares of the company’s stock worth $40,000 after buying an additional 2,306 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Janux Therapeutics in the 3rd quarter worth $54,000. Finally, Quantbot Technologies LP lifted its holdings in Janux Therapeutics by 2,290.0% in the 2nd quarter. Quantbot Technologies LP now owns 5,497 shares of the company’s stock worth $84,000 after buying an additional 5,267 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

About Janux Therapeutics

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company developing immune-based medicines for the treatment of cancer and autoimmune diseases. The company’s research is focused on designing therapies that selectively activate the immune system in diseased tissue while limiting activity in healthy tissue.

Janux’s proprietary technology platform is designed to create tumor-activated T-cell engager therapies and other immunomodulators. These medicines are engineered to remain relatively inactive in the circulation and become activated in the tumor microenvironment, with the goal of improving the therapeutic window of immune therapies.