Janux Therapeutics’ (JANX) Outperform Rating Reaffirmed at Wedbush

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They presently have a $76.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 187.01% from the stock’s current price.

A number of other research analysts have also issued reports on JANX. Barclays increased their target price on shares of Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday. Guggenheim started coverage on Janux Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price target for the company. Stifel Nicolaus restated a “buy” rating and set a $45.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, September 10th. Truist Financial started coverage on Janux Therapeutics in a report on Wednesday, September 10th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Piper Sandler assumed coverage on Janux Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.17.

Janux Therapeutics Price Performance

NASDAQ JANX traded down $2.18 on Friday, reaching $26.48. The stock had a trading volume of 1,750,098 shares, compared to its average volume of 1,196,176. The company has a market cap of $1.59 billion, a P/E ratio of -15.76 and a beta of 2.83. The firm has a fifty day moving average of $25.11 and a two-hundred day moving average of $25.27. Janux Therapeutics has a 1-year low of $21.73 and a 1-year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to analyst estimates of $3.07 million. Research analysts predict that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 16,665 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $30.06, for a total value of $500,949.90. Following the sale, the insider directly owned 82,139 shares of the company’s stock, valued at $2,469,098.34. This trade represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JANX. Readystate Asset Management LP grew its position in shares of Janux Therapeutics by 38.0% in the 3rd quarter. Readystate Asset Management LP now owns 960,379 shares of the company’s stock valued at $23,472,000 after buying an additional 264,423 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Janux Therapeutics in the third quarter worth approximately $378,000. Vanguard Group Inc. boosted its holdings in Janux Therapeutics by 10.4% in the third quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company’s stock valued at $59,074,000 after acquiring an additional 227,676 shares during the last quarter. Aberdeen Group plc boosted its holdings in Janux Therapeutics by 21.1% in the third quarter. Aberdeen Group plc now owns 345,476 shares of the company’s stock valued at $8,443,000 after acquiring an additional 60,188 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Janux Therapeutics by 63.5% during the 3rd quarter. Profund Advisors LLC now owns 16,438 shares of the company’s stock valued at $402,000 after purchasing an additional 6,386 shares during the period. Institutional investors own 75.39% of the company’s stock.

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.