Janux Therapeutics, Inc. (NASDAQ:JANX) Stock Rated “Moderate Buy” by Wall Street Analysts

Janux Therapeutics, Inc. (NASDAQ:JANX) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $36.92.

A number of analysts recently issued reports on the company. Wedbush boosted their price target on Janux Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday. Wolfe Research upgraded Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Monday, August 24th. TD Cowen raised Janux Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. HC Wainwright reiterated a “buy” rating on shares of Janux Therapeutics in a report on Monday, October 19th. Finally, Barclays increased their price target on Janux Therapeutics from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday.

Janux Therapeutics Trading Down 27.6%

Shares of JANX opened at $12.76 on Tuesday. The firm has a fifty day moving average price of $17.39 and a 200-day moving average price of $15.41. The firm has a market capitalization of $780.15 million, a P/E ratio of -8.03 and a beta of 2.44. Janux Therapeutics has a 12-month low of $12.12 and a 12-month high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13. The company had revenue of $9.29 million during the quarter, compared to the consensus estimate of $8.03 million. Analysts predict that Janux Therapeutics will post -1.70 earnings per share for the current year.

Institutional Trading of Janux Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Janux Therapeutics during the 2nd quarter valued at about $94,228,000. State Street Corp lifted its position in shares of Janux Therapeutics by 22.0% in the 2nd quarter. State Street Corp now owns 3,004,899 shares of the company’s stock worth $46,155,000 after purchasing an additional 540,882 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of Janux Therapeutics by 2.9% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,647,140 shares of the company’s stock worth $25,300,000 after purchasing an additional 46,051 shares during the period. Algert Global LLC lifted its position in shares of Janux Therapeutics by 150.5% in the 2nd quarter. Algert Global LLC now owns 1,110,889 shares of the company’s stock worth $17,063,000 after purchasing an additional 667,492 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Janux Therapeutics during the second quarter valued at approximately $13,985,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Company Profile

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.