Janux Therapeutics (NASDAQ:JANX) Coverage Initiated at Leerink Partners

Research analysts at Leerink Partners initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $79.00 price target on the stock. Leerink Partners’ price target suggests a potential upside of 69.80% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. UBS Group began coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 price target for the company. 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 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research note on Thursday, November 14th. Scotiabank lowered their target price on shares of 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. Finally, Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.70.

Janux Therapeutics Trading Down 5.0 %

Shares of JANX stock opened at $46.53 on Friday. Janux Therapeutics has a 1 year low of $7.79 and a 1 year high of $65.60. The firm’s 50 day moving average is $50.06 and its 200-day moving average is $46.11. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -39.76 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The business had revenue of $0.44 million for 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%. Janux Therapeutics’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, equities research analysts forecast that Janux Therapeutics will post -1.34 earnings per share 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 firm’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 sale, the insider now owns 67,592 shares in the company, valued at approximately $3,106,528.32. This trade represents a 42.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the sale, the chief executive officer now owns 282,054 shares of the company’s stock, valued at approximately $15,101,171.16. This represents a 8.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 420,610 shares of company stock worth $19,288,666 over the last quarter. 29.40% of the stock is currently owned by insiders.

Institutional Trading of Janux Therapeutics

Hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd increased its position in Janux Therapeutics by 18.7% during the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after acquiring an additional 187 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after acquiring an additional 339 shares during the period. Amalgamated Bank increased its position in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares during the period. Summit Securities Group LLC bought a new position in Janux Therapeutics during the second quarter worth about $29,000. Finally, Virtu Financial LLC increased its position in Janux Therapeutics by 48.0% during the third quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock worth $339,000 after acquiring an additional 2,419 shares during the period. Institutional investors and hedge funds 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.