William Blair Reaffirms “Outperform” Rating for Janux Therapeutics (NASDAQ:JANX)

William Blair reissued their outperform rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research note released on Tuesday,RTT News reports.

Other research analysts have also issued reports about the company. Stifel Nicolaus began coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective on the stock. Scotiabank lowered their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Thursday, November 7th. Finally, HC Wainwright increased their price target on Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment 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 data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $77.90.

Janux Therapeutics Price Performance

JANX stock opened at $59.86 on Tuesday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -51.16 and a beta of 3.29. The company has a fifty day moving average price of $49.60 and a two-hundred day moving average price of $45.72. Janux Therapeutics has a one year low of $7.79 and a one year high of $71.25.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company’s quarterly revenue was down 82.6% on a year-over-year basis. Research analysts anticipate that Janux Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Activity at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 3,162,851 shares in the company, valued at $132,839,742. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 460,610 shares of company stock worth $21,583,666 over the last three months. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in shares of Janux Therapeutics during the 2nd quarter worth about $29,000. Amalgamated Bank grew its holdings in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after buying an additional 368 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Janux Therapeutics in the 2nd quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 worth $87,000 after purchasing an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Janux Therapeutics in the 2nd quarter valued at about $151,000. 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.