Janux Therapeutics (NASDAQ:JANX) Earns Buy Rating from Analysts at UBS Group

Stock analysts at UBS Group assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report released on Thursday, Marketbeat reports. The firm set a “buy” rating and a $69.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 29.19% from the stock’s current price.

Several other equities research analysts also recently commented on JANX. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. Wedbush restated an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank reduced their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $63.00 price target on shares of Janux Therapeutics in a research report on Monday, August 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.44.

Janux Therapeutics Price Performance

JANX stock opened at $53.41 on Thursday. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60. The firm has a 50 day simple moving average of $46.85 and a 200 day simple moving average of $45.85.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.20. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The business had revenue of $8.90 million during the quarter, compared to analyst estimates of $0.77 million. The firm’s quarterly revenue was up 709.1% on a year-over-year basis. As a group, research analysts expect that Janux Therapeutics will post -1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $50.02, for a total transaction of $92,186.86. Following the transaction, the insider now owns 6,371 shares in the company, valued at $318,677.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 395,610 shares of company stock worth $17,950,166 in the last quarter. 29.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Logos Global Management LP grew its stake in Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after buying an additional 600,000 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Janux Therapeutics in the 1st quarter valued at $20,420,000. Vanguard Group Inc. grew its stake in Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after buying an additional 378,477 shares during the last quarter. Altitude Crest Partners Inc. acquired a new position in Janux Therapeutics in the 1st quarter valued at $7,278,000. Finally, Point72 Asset Management L.P. acquired a new position in Janux Therapeutics in the 2nd quarter valued at $5,715,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

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.