Janux Therapeutics (NASDAQ:JANX) Given New $115.00 Price Target at Stifel Nicolaus

Janux Therapeutics (NASDAQ:JANX) had its target price lifted by Stifel Nicolaus from $70.00 to $115.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on JANX. HC Wainwright lifted their target price on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday. Scotiabank reduced 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. Wedbush reissued an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research report on Thursday, November 7th. 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. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $77.90.

Janux Therapeutics Price Performance

Shares of JANX stock opened at $59.86 on Tuesday. The firm’s 50-day moving average is $49.60 and its two-hundred day moving average is $45.72. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $71.25. The company has a market capitalization of $3.14 billion, a PE ratio of -51.16 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. The company’s revenue was down 82.6% compared to the same quarter last year. Sell-side analysts forecast that Janux Therapeutics will post -1.35 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $42.00, for a total value 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. This represents a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the transaction, the chief executive officer now directly owns 307,054 shares of the company’s stock, valued at approximately $14,219,670.74. This trade represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 460,610 shares of company stock worth $21,583,666. 29.40% of the stock is owned by corporate insiders.

Institutional Trading of Janux Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock worth $114,587,000 after acquiring an additional 721,563 shares in the last quarter. Logos Global Management LP grew its stake in shares of Janux Therapeutics by 400.0% during the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after acquiring an additional 600,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after acquiring an additional 378,477 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Janux Therapeutics by 190.2% during the third quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after acquiring an additional 259,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Janux Therapeutics by 202.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after acquiring an additional 156,675 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.