Janux Therapeutics (NASDAQ:JANX) Given “Overweight” Rating at Cantor Fitzgerald

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They presently have a $100.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 78.89% from the stock’s previous close.

A number of other equities analysts have also commented on JANX. HC Wainwright reissued a “buy” rating and issued a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. UBS Group began coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $74.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. Stifel Nicolaus began coverage on Janux Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Scotiabank reduced their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.44.

Janux Therapeutics Stock Performance

Janux Therapeutics stock traded up $1.01 during mid-day trading on Thursday, reaching $55.90. The company’s stock had a trading volume of 107,375 shares, compared to its average volume of 710,147. The company has a market capitalization of $2.92 billion, a P/E ratio of -61.43 and a beta of 3.52. The firm’s fifty day moving average price is $48.69 and its two-hundred day moving average price is $46.30. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The business had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, research analysts predict that Janux Therapeutics will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 50,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the completion of the transaction, the insider now directly owns 67,592 shares of the company’s stock, valued at approximately $3,106,528.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 50,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $45.96, for a total value of $2,298,000.00. Following the completion of the sale, the insider now owns 67,592 shares in the company, valued at approximately $3,106,528.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 307,054 shares in the company, valued at $14,219,670.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 420,610 shares of company stock valued at $19,288,666 in the last quarter. Company insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of JANX. Logos Global Management LP raised its stake in Janux Therapeutics by 400.0% in the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after buying an additional 600,000 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Janux Therapeutics in the 1st quarter valued at approximately $20,420,000. Vanguard Group Inc. boosted its position in shares of Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after purchasing an additional 378,477 shares in the last quarter. Altitude Crest Partners Inc. purchased a new stake in Janux Therapeutics in the first quarter worth $7,278,000. Finally, Point72 Asset Management L.P. bought a new position in Janux Therapeutics in the second quarter worth $5,715,000. 75.39% of the stock is 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.