BTIG Research Issues Positive Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX) had its target price upped by BTIG Research from $82.00 to $100.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

JANX has been the topic of a number of other reports. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. Wedbush reissued an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a report on Thursday, November 7th. UBS Group started coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. Finally, HC Wainwright upped their price target on shares of Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $79.90.

Janux Therapeutics Stock Down 0.8 %

Shares of NASDAQ:JANX opened at $66.30 on Tuesday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -56.67 and a beta of 3.29. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.71. The firm has a 50 day moving average of $50.21 and a 200 day moving average of $45.96.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Janux Therapeutics’s revenue was down 82.6% compared to the same quarter last year. On average, sell-side analysts expect that Janux Therapeutics will post -1.35 EPS for the current year.

Insiders Place Their Bets

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the transaction, the chief executive officer now owns 307,054 shares in the company, valued at approximately $14,219,670.74. This represents a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the transaction, the director now owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This trade represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 352,245 shares of company stock worth $17,032,336. Company insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in shares of Janux Therapeutics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 18,983 shares of the company’s stock worth $937,000 after purchasing an additional 7,442 shares during the last quarter. Virtu Financial LLC raised its position in shares of Janux Therapeutics by 48.0% during the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock worth $339,000 after purchasing an additional 2,419 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Janux Therapeutics during the 3rd quarter worth about $940,000. Geode Capital Management LLC raised its position in shares of Janux Therapeutics by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after purchasing an additional 38,490 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Janux Therapeutics by 496.5% during the 3rd quarter. Barclays PLC now owns 174,061 shares of the company’s stock worth $7,907,000 after purchasing an additional 144,883 shares during the last quarter. Institutional investors and hedge funds 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.