Janux Therapeutics’ (JANX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research note issued to investors on Monday, Benzinga reports. They currently have a $63.00 price objective on the stock.

Several other equities analysts also recently issued reports on JANX. Wedbush restated an outperform rating and set a $74.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. Scotiabank cut their price objective on shares of Janux Therapeutics from $47.00 to $42.00 and set a sector perform rating on the stock in a report on Friday, August 9th. Finally, Cantor Fitzgerald restated an overweight rating and set a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $65.57.

Janux Therapeutics Stock Performance

Shares of Janux Therapeutics stock opened at $43.42 on Monday. The company has a market capitalization of $2.25 billion, a PE ratio of -35.59 and a beta of 3.57. The company has a 50-day simple moving average of $41.17 and a two-hundred day simple moving average of $40.02. Janux Therapeutics has a one year low of $5.65 and a one year high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The business had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. The firm’s quarterly revenue was up 709.1% compared to the same quarter last year. On average, equities analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In related news, Director Jay Lichter sold 1,500,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the sale, the director now owns 633,673 shares in the company, valued at $34,693,596.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Janux Therapeutics news, Director Jay Lichter sold 1,500,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the sale, the director now owns 633,673 shares in the company, valued at approximately $34,693,596.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $37,081,025.25. Following the completion of the sale, the insider now owns 3,271,216 shares in the company, valued at approximately $179,099,076. The disclosure for this sale can be found here. Insiders have sold a total of 3,000,000 shares of company stock worth $164,250,000 over the last quarter. Insiders own 35.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in shares of Janux Therapeutics during the 2nd quarter valued at approximately $5,715,000. Blue Owl Capital Holdings LP acquired a new position in Janux Therapeutics in the 2nd quarter valued at $1,676,000. The Manufacturers Life Insurance Company raised its stake in Janux Therapeutics by 234.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company’s stock valued at $1,007,000 after purchasing an additional 16,864 shares during the last quarter. AQR Capital Management LLC acquired a new position in Janux Therapeutics in the 2nd quarter valued at $215,000. Finally, Samlyn Capital LLC raised its stake in Janux Therapeutics by 9.6% in the 2nd quarter. Samlyn Capital LLC now owns 324,703 shares of the company’s stock valued at $13,602,000 after purchasing an additional 28,312 shares during the last quarter. Hedge funds and other institutional investors 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.