Scotiabank Boosts Janux Therapeutics (NASDAQ:JANX) Price Target to $62.00

Janux Therapeutics (NASDAQ:JANX) had its price target lifted by investment analysts at Scotiabank from $42.00 to $62.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential downside of 6.49% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. BTIG Research boosted their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Leerink Partners boosted their price objective on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group initiated coverage on Janux Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Janux Therapeutics presently has an average rating of “Buy” and a consensus price target of $79.90.

Janux Therapeutics Stock Performance

Shares of NASDAQ:JANX opened at $66.30 on Wednesday. The firm has a market cap of $3.48 billion, a P/E 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 business’s 50 day simple moving average is $50.21 and its two-hundred day simple moving average is $45.96.

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

Insiders Place Their Bets

In other Janux Therapeutics news, Director Ra Capital Management, L.P. acquired 1,200,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $46.24, for a total value of $44,297.92. Following the sale, the insider now directly owns 6,887 shares in the company, valued at $318,454.88. This trade represents a 12.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,245 shares of company stock valued at $17,032,336. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Janux Therapeutics by 0.6% in the third quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Janux Therapeutics by 40.0% during the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after buying an additional 721,563 shares in the last quarter. Vanguard Group Inc. lifted its stake in Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after purchasing an additional 378,477 shares during the last quarter. Logos Global Management LP increased its position in shares of Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 valued at $30,107,000 after buying an additional 38,490 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

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.