Janux Therapeutics (NASDAQ:JANX) Now Covered by Analysts at Leerink Partners

Stock analysts at Leerink Partners initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set an “outperform” rating and a $79.00 price target on the stock. Leerink Partners’ price objective points to a potential upside of 57.03% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a research note on Thursday, November 7th. UBS Group initiated coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. Scotiabank lowered their price objective 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. HC Wainwright reiterated a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

Shares of Janux Therapeutics stock opened at $50.31 on Friday. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $65.60. The firm has a market capitalization of $2.64 billion, a P/E ratio of -43.00 and a beta of 3.52. The business’s fifty day simple moving average is $50.07 and its 200 day simple moving average is $45.92.

Janux Therapeutics (NASDAQ:JANX) last posted 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). The company had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s quarterly revenue was down 82.6% compared to the same quarter last year. Analysts predict that Janux Therapeutics will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $46.24, for a total value of $44,297.92. Following the transaction, the insider now directly owns 6,887 shares in the company, valued at approximately $318,454.88. This represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were bought at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the transaction, the director now owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. The trade was a 14.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 420,610 shares of company stock worth $19,288,666. Corporate insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JANX. ProShare Advisors LLC purchased a new position in shares of Janux Therapeutics in the 1st quarter worth about $251,000. Vanguard Group Inc. boosted its stake in Janux Therapeutics by 38.6% in the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Janux Therapeutics during the first quarter valued at approximately $739,000. Janus Henderson Group PLC raised its stake in shares of Janux Therapeutics by 1.8% during the first quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock worth $73,961,000 after acquiring an additional 34,069 shares in the last quarter. Finally, Artal Group S.A. bought a new stake in shares of Janux Therapeutics in the 1st quarter worth approximately $1,882,000. Institutional investors own 75.39% of the company’s stock.

About Janux Therapeutics

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.