Janux Therapeutics (NASDAQ:JANX) Upgraded by Leerink Partnrs to “Strong-Buy” Rating

Leerink Partnrs upgraded shares of Janux Therapeutics (NASDAQ:JANX) to a strong-buy rating in a research report released on Friday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Leerink Partners assumed coverage on Janux Therapeutics in a report on Friday. They set an “outperform” rating and a $79.00 price objective on the stock. UBS Group began coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Wedbush reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. Finally, 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. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Janux Therapeutics currently has an average rating of “Buy” and an average price target of $67.70.

Janux Therapeutics Trading Down 3.0 %

Shares of JANX opened at $48.82 on Friday. The firm has a market capitalization of $2.56 billion, a P/E ratio of -41.73 and a beta of 3.52. Janux Therapeutics has a 12-month low of $7.79 and a 12-month high of $65.60. The firm has a fifty day moving average price of $50.05 and a 200-day moving average price of $45.83.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Janux Therapeutics’s revenue for the quarter was down 82.6% on a year-over-year basis. Analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the transaction, the director now owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. The trade was a 14.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 stock was 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 of the company’s stock, valued at approximately $318,454.88. The trade was a 12.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 420,610 shares of company stock valued at $19,288,666 over the last ninety days. 29.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in shares of Janux Therapeutics during the 2nd quarter valued at about $29,000. Amalgamated Bank raised its holdings in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after buying an additional 368 shares during the period. Plato Investment Management Ltd acquired a new position in Janux Therapeutics during the 2nd quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after acquiring an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Janux Therapeutics during the second quarter worth about $151,000. 75.39% of the stock is owned by hedge funds and other 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.