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

UBS Group began coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $69.00 target price on the stock.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. 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. Scotiabank dropped their price objective 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, Stifel Nicolaus started coverage on shares of Janux Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $70.00 price target for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.44.

Janux Therapeutics Trading Up 1.7 %

NASDAQ:JANX opened at $54.20 on Thursday. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The stock’s 50 day simple moving average is $46.85 and its 200-day simple moving average is $45.85. The firm has a market cap of $2.81 billion, a P/E ratio of -43.70 and a beta of 3.54.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Janux Therapeutics’s quarterly revenue was up 709.1% compared to the same quarter last year. Research analysts forecast that Janux Therapeutics will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the purchase, the director now directly owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of Janux Therapeutics stock in a transaction dated 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 completion of the acquisition, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the completion of the sale, the chief executive officer now directly owns 307,054 shares in the company, valued at approximately $14,219,670.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 395,610 shares of company stock worth $17,950,166 over the last quarter. 35.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

Several large investors have recently added to or reduced their stakes in JANX. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $87,000 after purchasing an additional 339 shares during the period. Amalgamated Bank increased its stake in Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after buying an additional 368 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Janux Therapeutics in the 2nd quarter worth approximately $29,000. Plato Investment Management Ltd bought a new position in shares of Janux Therapeutics in the second quarter valued at approximately $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Janux Therapeutics during the second quarter valued at approximately $151,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.