Cantor Fitzgerald Reiterates “Overweight” Rating for Janux Therapeutics (NASDAQ:JANX)

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 218.57% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, December 3rd. Stifel Nicolaus increased their target price on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. BTIG Research increased 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, December 3rd. Finally, Leerink Partners raised 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. 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $89.90.

Janux Therapeutics Stock Performance

Janux Therapeutics stock traded up $0.42 during mid-day trading on Wednesday, reaching $62.78. The stock had a trading volume of 118,583 shares, compared to its average volume of 779,996. Janux Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $71.71. The stock’s 50-day simple moving average is $51.66 and its 200-day simple moving average is $46.48. The firm has a market capitalization of $3.29 billion, a PE ratio of -53.66 and a beta of 3.30.

Janux Therapeutics (NASDAQ:JANX) last posted its 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 company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s revenue was down 82.6% compared to the same quarter last year. On average, research analysts forecast that Janux Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the transaction, the chief executive officer now directly owns 307,054 shares of the company’s stock, valued at approximately $14,219,670.74. This trade represents a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of Janux Therapeutics stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.00, for a total transaction of $7,427,457.00. Following the transaction, the insider now directly owns 2,959,175 shares in the company, valued at $139,081,225. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 350,063 shares of company stock worth $16,939,972 over the last three months. 29.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in JANX. SG Americas Securities LLC purchased a new position in shares of Janux Therapeutics during the second quarter worth approximately $1,452,000. Bank of New York Mellon Corp raised its holdings in Janux Therapeutics by 136.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock valued at $4,818,000 after buying an additional 66,340 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Janux Therapeutics during the 2nd quarter valued at $29,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Janux Therapeutics in the 2nd quarter worth $151,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Janux Therapeutics in the second quarter valued at about $237,000. 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.