Janux Therapeutics’ (JANX) Outperform Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research note released on Friday,RTT News reports.

JANX has been the topic of several other reports. Scotiabank raised their target price on Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. UBS Group initiated coverage on Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective on the stock. HC Wainwright upped their target price on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Lifesci Capital upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of Janux Therapeutics in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Stock Performance

Shares of JANX stock opened at $46.76 on Friday. Janux Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $71.71. The company has a market capitalization of $2.45 billion, a P/E ratio of -39.97 and a beta of 3.23. The stock has a 50 day moving average price of $54.26 and a two-hundred day moving average price of $48.31.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The firm had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics’s quarterly revenue was down 82.6% on a year-over-year basis. As a group, equities analysts predict that Janux Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. acquired 1,200,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $50.02, for a total value of $92,186.86. Following the completion of the sale, the insider now directly owns 6,371 shares in the company, valued at $318,677.42. This trade represents a 22.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,177 shares of company stock valued at $6,162,207 over the last quarter. Corporate insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Janux Therapeutics by 136.3% during the second quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock valued at $4,818,000 after acquiring an additional 66,340 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Janux Therapeutics during the 2nd quarter valued at $237,000. Rhumbline Advisers increased its holdings in shares of Janux Therapeutics by 41.2% in the 2nd quarter. Rhumbline Advisers now owns 38,008 shares of the company’s stock worth $1,592,000 after purchasing an additional 11,085 shares in the last quarter. TD Asset Management Inc purchased a new position in shares of Janux Therapeutics in the second quarter worth $829,000. Finally, Victory Capital Management Inc. bought a new position in shares of Janux Therapeutics during the second quarter valued at $512,000. 75.39% of the stock is currently owned by institutional investors.

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.