Janux Therapeutics, Inc. (NASDAQ:JANX) Receives $88.00 Average PT from Analysts

Janux Therapeutics, Inc. (NASDAQ:JANX) has received an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $88.00.

Several research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Janux Therapeutics in a research note on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of Janux Therapeutics in a report on Wednesday, December 11th. Leerink Partners raised their price objective on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Scotiabank reduced their target price on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, BTIG Research lifted their price target on Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd.

Insider Activity

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the sale, the insider now owns 82,139 shares in the company, valued at approximately $3,473,658.31. This represents a 3.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the completion of the acquisition, the director now owns 9,658,988 shares of the company’s stock, valued at $295,951,392.32. The trade was a 3.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 50,002 shares of company stock worth $2,684,703. 29.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. boosted its holdings in Janux Therapeutics by 13.1% in the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company’s stock worth $554,977,000 after purchasing an additional 1,200,000 shares during the period. FMR LLC lifted its holdings in Janux Therapeutics by 10.8% in the fourth quarter. FMR LLC now owns 8,669,941 shares of the company’s stock worth $464,189,000 after acquiring an additional 845,266 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Janux Therapeutics by 41.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company’s stock worth $190,617,000 after purchasing an additional 1,038,996 shares during the last quarter. Paradigm Biocapital Advisors LP boosted its position in Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company’s stock valued at $188,246,000 after purchasing an additional 1,115,412 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in Janux Therapeutics by 47.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company’s stock worth $163,926,000 after buying an additional 986,750 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors.

Janux Therapeutics Price Performance

JANX opened at $30.22 on Thursday. The stock’s 50 day simple moving average is $40.83 and its 200 day simple moving average is $47.40. The stock has a market cap of $1.79 billion, a P/E ratio of -25.83 and a beta of 3.23. Janux Therapeutics has a 1-year low of $29.51 and a 1-year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Research analysts expect that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

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.