Janux Therapeutics (NASDAQ:JANX) Price Target Lowered to $41.00 at Scotiabank

Janux Therapeutics (NASDAQ:JANX) had its price objective cut by Scotiabank from $62.00 to $41.00 in a report issued on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

JANX has been the subject of several other research reports. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. Wedbush reaffirmed an “outperform” rating and set a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday. BTIG Research upped their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Janux Therapeutics currently has an average rating of “Buy” and an average target price of $88.00.

Janux Therapeutics Stock Performance

Shares of NASDAQ JANX opened at $32.89 on Friday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -28.11 and a beta of 3.16. The business has a 50 day simple moving average of $43.75 and a 200 day simple moving average of $47.81. Janux Therapeutics has a 52 week low of $31.69 and a 52 week high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. On average, analysts predict that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Activity

In other news, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $56.19, for a total value of $1,404,750.00. Following the completion of the sale, the chief executive officer now directly owns 217,054 shares of the company’s stock, valued at approximately $12,196,264.26. This represents a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Hollman Meyer sold 3,334 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the completion of the transaction, the insider now owns 82,139 shares of the company’s stock, valued at $3,473,658.31. The trade was a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,668 shares of company stock valued at $3,582,515. 29.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Janux Therapeutics in the fourth quarter valued at $2,477,000. GF Fund Management CO. LTD. acquired a new position in shares of Janux Therapeutics in the fourth quarter valued at $59,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Janux Therapeutics by 532.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,737 shares of the company’s stock valued at $8,874,000 after purchasing an additional 139,543 shares in the last quarter. Woodline Partners LP raised its stake in Janux Therapeutics by 15.7% during the fourth quarter. Woodline Partners LP now owns 1,852,187 shares of the company’s stock worth $99,166,000 after acquiring an additional 251,924 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Janux Therapeutics by 155.1% during the fourth quarter. Squarepoint Ops LLC now owns 41,176 shares of the company’s stock worth $2,205,000 after acquiring an additional 25,034 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.