Janux Therapeutics (NASDAQ:JANX) Receives Overweight Rating from Cantor Fitzgerald

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $100.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 102.18% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Scotiabank dropped their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Finally, Stifel Nicolaus began coverage on Janux Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.13.

Janux Therapeutics Trading Down 0.9 %

Shares of NASDAQ JANX opened at $49.46 on Monday. Janux Therapeutics has a 1 year low of $5.65 and a 1 year high of $65.60. The firm’s 50-day moving average is $43.14 and its 200-day moving average is $44.16. The firm has a market capitalization of $2.56 billion, a PE ratio of -40.54 and a beta of 3.57.

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

Insider Activity

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the sale, the insider now directly owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 268,578 shares of company stock worth $12,071,151. Insiders own 35.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the period. Summit Securities Group LLC acquired a new position in Janux Therapeutics during the 2nd quarter worth approximately $29,000. Plato Investment Management Ltd bought a new position in Janux Therapeutics in the second quarter worth approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics in the second quarter worth approximately $151,000. Finally, Quest Partners LLC grew its stake in Janux Therapeutics by 307.2% in the second quarter. Quest Partners LLC now owns 5,795 shares of the company’s stock valued at $243,000 after acquiring an additional 4,372 shares during the period. 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.