HC Wainwright Issues Positive Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX) had its price objective lifted by HC Wainwright from $63.00 to $70.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Several other research analysts have also commented on the company. Scotiabank reduced their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Finally, Leerink Partners started coverage on Janux Therapeutics in a research note on Friday, November 22nd. They set an “outperform” rating and a $79.00 target price for the company. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $77.90.

Janux Therapeutics Trading Up 49.0 %

Shares of NASDAQ JANX opened at $59.86 on Tuesday. The stock has a market cap of $3.14 billion, a PE ratio of -51.16 and a beta of 3.29. Janux Therapeutics has a 12-month low of $7.79 and a 12-month high of $71.25. The company has a 50-day moving average of $49.60 and a 200 day moving average of $45.72.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (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 company had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. The business’s revenue was down 82.6% compared to the same quarter last year. On average, sell-side analysts forecast that Janux Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total value of $1,005,000.00. Following the completion of the transaction, the chief executive officer now owns 242,054 shares of the company’s stock, valued at $16,217,618. This trade represents a 5.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This trade represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 460,610 shares of company stock valued at $21,583,666 in the last three months. 29.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds have recently bought and sold shares of JANX. Price T Rowe Associates Inc. MD acquired a new stake in Janux Therapeutics in the first quarter valued at approximately $739,000. Vanguard Group Inc. raised its holdings in shares of Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after purchasing an additional 378,477 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Janux Therapeutics during the 3rd quarter worth $1,112,000. Ally Bridge Group NY LLC acquired a new position in shares of Janux Therapeutics during the third quarter worth $4,943,000. Finally, Blue Owl Capital Holdings LP purchased a new position in Janux Therapeutics in the second quarter valued at $1,676,000. 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.