Wedbush Reaffirms “Outperform” Rating for Janux Therapeutics (NASDAQ:JANX)

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating restated by 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, up from their previous price objective of $75.00. Wedbush’s price target would suggest a potential upside of 131.07% from the company’s current price.

A number of other brokerages have also weighed in on JANX. Lifesci Capital upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, December 27th. Scotiabank increased their price objective on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. Leerink Partners increased their price objective on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus increased their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, BTIG Research increased their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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 firm has a fifty day moving average price of $43.75 and a 200 day moving average price of $47.88. Janux Therapeutics has a fifty-two week low of $31.69 and a fifty-two week high of $71.71. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -28.11 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, research analysts predict that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the transaction, the insider now owns 82,139 shares of the company’s stock, valued at $3,473,658.31. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $56.19, for a total transaction of $1,404,750.00. Following the completion of the transaction, the chief executive officer now directly owns 217,054 shares in the company, valued at $12,196,264.26. This represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,668 shares of company stock valued at $3,582,515 in the last 90 days. Company insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JANX. Plato Investment Management Ltd increased its position in Janux Therapeutics by 18.7% during the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after purchasing an additional 187 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the period. Russell Investments Group Ltd. increased its position in Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after purchasing an additional 442 shares during the period. Rhumbline Advisers increased its position in Janux Therapeutics by 1.6% during the 4th quarter. Rhumbline Advisers now owns 38,153 shares of the company’s stock valued at $2,043,000 after purchasing an additional 599 shares during the period. Finally, Kennedy Capital Management LLC increased its position in Janux Therapeutics by 7.9% during the 4th quarter. Kennedy Capital Management LLC now owns 12,713 shares of the company’s stock valued at $681,000 after purchasing an additional 928 shares during the period. Hedge funds and other 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.