Brokerages Set Janux Therapeutics, Inc. (NASDAQ:JANX) Target Price at $37.58

Janux Therapeutics, Inc. (NASDAQ:JANX) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $37.5833.

JANX has been the subject of several analyst reports. Piper Sandler dropped their target price on Janux Therapeutics from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Wedbush reduced their target price on Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Evercore set a $22.00 price target on Janux Therapeutics in a research note on Monday, May 11th. Truist Financial restated a “buy” rating and issued a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Finally, Stifel Nicolaus set a $35.00 price objective on shares of Janux Therapeutics in a research note on Friday, August 7th.

Insider Activity

In related news, insider Janeen Noel Doyle sold 4,059 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $14.03, for a total value of $56,947.77. Following the sale, the insider directly owned 75,941 shares of the company’s stock, valued at approximately $1,065,452.23. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhenman & Partners Asset Management AB grew its stake in shares of Janux Therapeutics by 125.1% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 225,377 shares of the company’s stock valued at $3,110,000 after buying an additional 125,250 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Janux Therapeutics during the 1st quarter worth $1,946,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Janux Therapeutics during the 4th quarter worth $536,000. BML Capital Management LLC purchased a new position in shares of Janux Therapeutics in the 1st quarter worth $2,154,000. Finally, Rangeley Capital LLC raised its position in shares of Janux Therapeutics by 382.0% in the 1st quarter. Rangeley Capital LLC now owns 122,500 shares of the company’s stock worth $1,703,000 after buying an additional 97,086 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Stock Performance

JANX stock opened at $17.39 on Thursday. The company has a 50 day moving average price of $15.66 and a two-hundred day moving average price of $14.63. The stock has a market capitalization of $1.06 billion, a P/E ratio of -10.60 and a beta of 2.50. Janux Therapeutics has a one year low of $12.12 and a one year high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). The business had revenue of $10.27 million during the quarter, compared to the consensus estimate of $19.07 million. Research analysts forecast that Janux Therapeutics will post -1.76 earnings per share for the current fiscal year.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.