Janux Therapeutics (NASDAQ:JANX) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $79.00 target price on the stock.

Several other research firms also recently commented on JANX. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. Stifel Nicolaus assumed coverage on Janux Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $63.00 target price on shares of Janux Therapeutics in a report on Thursday, November 7th. Finally, Scotiabank cut 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 report on Friday, August 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Janux Therapeutics Price Performance

Shares of NASDAQ JANX opened at $50.31 on Friday. Janux Therapeutics has a 1 year low of $7.79 and a 1 year high of $65.60. The firm has a 50-day moving average of $50.07 and a 200 day moving average of $46.03.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. The company’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, equities analysts forecast that Janux Therapeutics will post -1.34 EPS for the current year.

Insider Activity

In related news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $46.24, for a total value of $44,297.92. Following the transaction, the insider now owns 6,887 shares of the company’s stock, valued at approximately $318,454.88. This trade represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the sale, the chief executive officer now owns 282,054 shares of the company’s stock, valued at $15,101,171.16. This trade represents a 8.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 420,610 shares of company stock valued at $19,288,666 in the last ninety days. 29.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics in the 2nd quarter worth $29,000. Amalgamated Bank lifted its position in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Janux Therapeutics during the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. increased its position in Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after buying an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Janux Therapeutics in the second quarter worth about $151,000. Hedge funds and other 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.