Janux Therapeutics (NASDAQ:JANX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Janux Therapeutics (NASDAQ:JANX) had its price objective increased by HC Wainwright from $63.00 to $70.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 4.43% from the stock’s previous close.

Several other research firms have also issued reports on JANX. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Janux Therapeutics in a report on Thursday, November 7th. UBS Group initiated coverage on Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. Stifel Nicolaus initiated coverage on Janux Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $70.00 target price for the company. Finally, Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $72.20.

Janux Therapeutics Stock Performance

Shares of Janux Therapeutics stock opened at $67.03 on Tuesday. Janux Therapeutics has a 52-week low of $7.79 and a 52-week high of $67.03. The stock has a market capitalization of $3.52 billion, a P/E ratio of -34.34 and a beta of 3.30. The stock’s 50-day simple moving average is $49.81 and its 200 day simple moving average is $45.77.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The company had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. The firm’s quarterly revenue was down 82.6% on a year-over-year basis. Equities research analysts forecast that Janux Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $42.33, for a total value of $92,364.06. Following the sale, the insider now owns 7,000 shares of the company’s stock, valued at $296,310. This trade represents a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the transaction, the chief executive officer now owns 307,054 shares of the company’s stock, valued at $14,219,670.74. This trade represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 445,610 shares of company stock valued at $20,578,666 in the last ninety days. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

A number of large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Janux Therapeutics in the first quarter valued at about $739,000. Vanguard Group Inc. boosted its stake in shares of Janux Therapeutics by 38.6% in the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after buying an additional 378,477 shares in the last quarter. Algert Global LLC acquired a new position in Janux Therapeutics during the third quarter worth $1,112,000. Ally Bridge Group NY LLC acquired a new stake in Janux Therapeutics in the third quarter valued at $4,943,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of Janux Therapeutics during the 2nd quarter worth $1,676,000. 75.39% of the stock is owned by institutional investors and hedge funds.

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.