Janux Therapeutics (NASDAQ:JANX) Receives New Coverage from Analysts at UBS Group

UBS Group assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a note issued to investors on Thursday, Briefing.com reports. The firm set a “buy” rating and a $69.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 33.33% from the company’s current price.

Several other brokerages also recently weighed in on JANX. Wedbush reissued an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank decreased their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a report on Monday, September 16th. Finally, Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.44.

Janux Therapeutics Trading Down 2.0 %

Janux Therapeutics stock opened at $51.75 on Thursday. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -42.42 and a beta of 3.54. The business’s fifty day simple moving average is $46.39 and its two-hundred day simple moving average is $45.75.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The company’s revenue was up 709.1% on a year-over-year basis. On average, equities research analysts predict that Janux Therapeutics will post -1.18 EPS for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the sale, the insider now directly owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the sale, the insider now owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. purchased 1,200,000 shares of Janux Therapeutics stock in a transaction on Friday, October 18th. The stock was bought 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 represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 395,610 shares of company stock valued at $17,950,166. 35.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Large investors have recently bought and sold shares of the business. Logos Global Management LP grew its stake in shares of Janux Therapeutics by 400.0% in the 2nd 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 bought a new stake in Janux Therapeutics during the first quarter worth approximately $20,420,000. Vanguard Group Inc. raised its position in 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 during the period. Altitude Crest Partners Inc. bought a new stake in shares of Janux Therapeutics in the 1st quarter valued at approximately $7,278,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Janux Therapeutics in the 2nd quarter worth approximately $5,715,000. 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.